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Factors that one need to consider before setting up a business
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[QUOTE="Holicent, post: 287030, member: 76163"] [SIZE=4][FONT=verdana]There are many factors that one needs to consider before setting up a business. The following are some of the most important factors: Cash: You will need enough cash to start your business because you will be paying for the initial investment in your business. This amount should be more than what you have in your savings account. You can borrow this money from family or friends. However, if you want to go into business with someone else, then you will need to sign a formal contract and pay interest on this loan. Location: When setting up a new business, location plays an important role. It has been observed that companies which start up in urban areas grow faster than those who operate in rural regions or small towns. Therefore, it is important that when starting up, you choose a location which provides all the necessary facilities and infrastructure such as electricity and water supply. Legal Framework: It is important that before starting up a new business, you should know about laws applicable to your industry and country so that you can avoid any kind of legal issues during operation stage of your business.[/FONT][/SIZE] [/QUOTE]
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Factors that one need to consider before setting up a business
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