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  • Writer's pictureJoseph Blogna

Starting a Small Business

Starting a business can be one of the most exciting things you can do! Whether your investing in a business, turning a skill or passion into a business or freelancing there is some things to consider when jumping in.

Check if you're ready

Starting a business takes a lot of effort and commitment. Before you start, it’s important to know what's involved and if you're suited to running a business. These questions will help you evaluate yourself and make sure you're ready. (Provided by

  1. Do you have the right skills?

  2. Are you prepared to sacrifice your lifestyle?

  3. Can you continue through tough times?

  4. Do you have access to the money you need?

  5. Are you prepared not to have a salary?

  6. Are you prepared to seek help?

  7. Are you prepared for the risks?

Analyse your business idea It's important to analyse your business idea and consider what the market is for your business. You can do this by asking the following questions:

  1. Is there a want or need for your product or service?

  2. How hard will it be to develop your idea?

  3. Is your idea financially viable?

  4. How will you protect your idea?

  5. Who are your competitors?

To answer the questions about you may need to gather, analyse and evaluate information to develop your business goals.

Do you have a business or a hobby? Work out if your activities are that of a business or a hobby. There are different tax, insurance and legal obligations depending on what you are.

Create a Start-up Costs Sheet

Check out this link to a great Startup Cost Calculator

Your Ready To Go...Now what?

The best place to start when want to start a business is to have a chat with a trusted advisor, such as your accountant or lawyer.

Empros has helped countless people launch businesses. We can help with helping you choose the right structure, sorting you banking needs, connecting you with lawyers and insurance brokers and implementing cloud accounting systems.

Reach out to us today - Click Here

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