by C. A. Hargreaves

Created on: March 02, 2009   Last Updated: April 17, 2009

Before starting a business there will be certain considerations to take into account, below you will find ten of these considerations.

1 The type of business you will be starting!

What type of business would you be starting up? Is it a start from scratch or is it a franchise? Or will you be taking over and already established business? The type of business you will be starting will lead to a lot of the other things that you need to consider.

2 Are you qualified to run this type of business?

Is it a type of business you need to have training and experiences first like a plumber or a hairdresser? Or if it's a franchise will you need to do any further training through the franchise provider? What other training could you do that would help you run your business successfully? Have you managed a small business before? Or have you got a certificate in small business? Is there any other training that will be beneficial to your business, or business in general?

3 Do you have the finances or can you get the finance that is needed to start your business?

It is very important that before you start your business that you have enough money to be able to run your business for the first three months (at a minimum)as well as to cover the start up costs and any other costs that a related to this stage of your business, it is also a good idea to give your self an extra ten percent of what you think you may need to cover the unexpected. It is amazing at the number of businesses that start up without the amount of cashflow that is actually required. This amount varies from person to person, business to business.

4 Do you have the support that you need from family and friends?

Running a business is hard work, but the journey to success can be made easier with the support of loved ones, friends and family, even if it is just to give you encouragement when times are tough. It would be fantastic that if your friends who are already in business could offer you some advice and guidance in the some ways as a mentor. Or even just there to bounce ideas off.

5 The relationship that you have with your bank manager

This is very important especially if you are going to need help with number three financing and cashflow, but also because they are a good source of business information especially related to your everyday banking requirements.

6 Have a good accountant

An accountant that is good for someone else may not be so good for you, after all you have to take into consideration personalities, experience

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