Home-based start-up costs
How much money should I have to start my home-based business?
The answer, of course, depends upon:
- The type of business you're starting
- Whether you will be operating your business full-time or part-time
- What you business and personal income requirements are or will be.
One of the best rules of thumb is if the business is full-time and your main income source, you should have six months of personal and anticipated business expenses put away. If business income begins streaming in right away, you have a nice nest egg; if it doesn't, you have some time to fine tune your marketing efforts.
Brain Trust contributor:
Related Categories: Business Planning, Business Start Up, Cash Managment, Entrepreneurship, Financial Planning, Home-Based Business, Marketing, Branding, Advertising
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