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Funding a business
When is best to have second business?
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[QUOTE="King bell, post: 336901, member: 75687"] When to start a second business is dependent on several factors such as how steady your current business is, your ability to handle more than one venture and the nature of the market. Here are some things you should bear in mind: 1. Stability of your first business: By and large, it’s good to build a strong foundation for your first business before venturing into the second one. Make sure that your first enterprise is running smoothly, generating regular revenues and has an efficient team in place. This stability will provide you with a solid footing upon which to establish your new venture. 2. Personal capacity and time management: Beginning and running a business consumes much time, effort and devotion. Check whether you are capable of meeting the demands of another enterprise while still maintaining success in the original one. Considerations should include personal commitments, work-life balance, and effective juggling of multiple ventures. [/QUOTE]
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When is best to have second business?
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