According to a report by the Small Business Administration, the average expected startup cost for a new business in America is $6,000. They studied more than 500 new businesses in 2003. Approximately half of all solo entrepreneurs surveyed stated that they needed $5,000 or less in financial means to make their business self-sustaining, while entrepreneurs with partners estimated needing more than $10,000.
Fox News just published a report, saying that the costs of starting a business in America varies tremendously and there is no real average on the exact start-up capital amount. Some people invest almost nothing while others invest more than $300 Million..
But that is just the Start-Up Capital, or the Financial implications of starting a business. We haven't talked about the biggest and most valuable cost to start a business today, which is the TIME cost. Many entrepreneurs put between 40 - 60 hours a week in their new businesses and just to get started. Even if someone invests nothing and performs extra tasks at home to make an extra $200/week, the time spent in performing that task has a value. Most entrepreneurs don't recognize that.
Opening a new business is a Financial investment, but it is an emotional investment as well. So when choosing a Home based Business, go for the one opportunity that gives you the greatest return on your capital and time investments.
You and your family will certainly benefit from it
Until next time,
Elena Fraga
Miami, FL
(888) 760-2141
www.elenafraga.org
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4 comments:
What an excellent and informative article! Thank you for posting this. -Chaunda
You are so right on the money with that post. Liberty League International is THE place to create wealth! Anyone from a CEO to a STAY AT HOME MOM can jump right in and have HUGE SUCCESS!
Marc Tamburri
www.hottesthomebiz.net
Hmm... I like this post. I'll keep this in mind since I plan on running my own business soon. I know it'll be tough, so I can use all the help and advice I can get. More recently, I've been thinking about buying a business instead of starting one from scratch. Maybe a franchise? Home based? I’m not sure. Do you have any suggestions or advice? Thanks.
@N.Broome - Yeah, running a business will be a bit challenging regardless if you start from scratch or buy a business. If you do want to buy a business though, there are a lot of resources available for you to use. There's one website called BizTrader.com. It's this online global marketplace where you can buy or sell a business. You can also use it to find a lender, broker, etc.
I also suggest checking out books and magazines. They can provide up-to-date information and tips. And it might be beneficial to join a small business group in your area.
Good luck!
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