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BroadswordWSJ BroadswordWSJ is offline
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Default 15-07-2015, 05:13 PM

Quote:
Originally Posted by dan300 View Post
It's not that difficult to start a business all you need is some capital, a good idea with potential, & the balls to take a calculated risk.
The only thing I would say with regards to the above is that I agree it's not overly difficult to start a business - but sustaining it and getting past the point of making a loss or even break even can be extremely, extremely difficult.

A huge number of startups fail within the first year or fail to make profit within the first few years, so where you say you need some capital, change that to "a lot" of capital, having some self funding sitting there to offset your losses and spend for the first few years is a good idea.

I think there's a lot more involved than you think; I have my own Limited Company although its not the same as I contract my work out to other companies so as long as I have a client my work is guarenteed. I originally wanted to do all my books myself but now I just outsource the whole thing to an accountant as I find it too difficult and time consuming. The end of April tax year almost had me in tears.

I'll leave this now as this was beginning to deviate from your overall thread & I don't want to hijack it on one particular topic.
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dan300 (17-07-2015), kowalski (15-07-2015)