In today's economy, people may be wondering if starting a business would be right for them. The answer of course depends on their situation, but it does not hurt to learn about the process of starting a business.
Make sure you have good resources you can rely on. If you rely on unverified information from the internet, it is very likely your company will not be still alive after ten years. Figure 1 shows that ten years after a company has started, it has a 30% chance of being still alive. Even if your business does not survive, you can start a new one with the new experience you have received.
To start a business, you need to have a solid business plan, meet with many people, and anticipate difficulties like government regulations and taxes. You may need to hire employes or purchase expensive equipment. It is very likely that you will need investors to support you.
How exactly to go about these tasks will vary from situation to situation and you may need to do extensive research to find the best option.
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