Before you leave your corporate job

By November 1, 2011 February 5th, 2016 Articles

Before you leave your corporate job at the end of this year to start the business you have been dreaming of, did you know that sustaining a business is harder than starting a business?

creating_a_business

It takes more than hard work, smarter thinking and dedication to establish a successful business, but the first hurdle is the money. Funding is one of the most important considerations you make.

Do you have the financial capacity to support your business? Even if it requires little upfront investment, you don’t want to depend on your business to provide a steady income immediately. You need to have a reserve.

Of course, if your supportive spouse agrees to cover your living expenses while you get your business going, you can launch without an extensive reserve. However, you should still have some money set aside to cover you in case something happens with your spouse’s job.

There are of course a host of other ways of funding your business but be sure to make an informed decision. Know what all the pros and cons are before committing to paying back that larger than necessary loan.

The saying goes “Money is only a tool”! So don’t become a statistic – think it through!

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