Ans: Much depends on your local circumstances but as a general rule if you have done the planning and you are ready to go with all the pieces in place then get started the venture.
Ans: Based on the number of new companies being formed worldwide I think the answer is that entrepreneurship is definitely alive and well.
Ans: Good question – every start-up will need an element of cash however a good entrepreneur will also explore credit options as well as contributions ‘in kind’ to establish their business.
Ans: Thanks for your endorsement and remember as an entrepreneur you never give up. If you have developed and planned your business idea, then persistence will ultimately pay and you will find the catch or credit source that you need.
Ans: The short answer is no but the intelligent answer is yes. Unless you are an entrepreneur extremely skilled in business formation and possibly the tax ramifications that go with that then it is far better to engage a professional. Certainly, there will be a cost but that expense will give you peace of mind and affirm foundation on which to get started.
Ans: Great question with no short answer – both have merits and much depends on your personal traits and background – with a franchise you will be following a tried and tested system and with a business start-up you will be learning as you go. Please check out our News & Views page for more information on this important topic and also check out our new publication ‘The Franchisee’s Essential Guide to Business’
Ans: No they are separate documents. Please refer to our E-books –https://stainbooks.com/shop/ that will take you through the planning process for both documents.
Ans: The majority of businesses need insurance in one form or another regardless of whether they sell a product or a service. You should certainly connect with a reputable insurance broker to get further information on this topic.
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