how do you handle the financial aspect of a potential business?
By amolisimo30
@amolisimo30 (43)
Philippines
September 19, 2010 9:02am CST
Have you ever thought of going into business? How do you plan the financial aspect
like cost to rent a place, manpower, initial capital, etc? How much capital is enough? Is there a general rule to that?
1 response
@jayrene (2708)
• Philippines
19 Sep 10
i've been into business since i was a child.
most business we made into, i dont have manpower, its all handson, just me and my family, we all help in running it.
as for the capital, whatever cash we have, that is what we start, think of what business we can make/do out of it. of course, when it comes to rent, the lower the better, but not because its lower you will grab it right away, look at the place too, is it safe, foot count, how close to houses, high-ways, etc.
some business requires a whole lot of capital while other do not. think first what business you will be doing, then after that you will know or you will get an idea of how much the capital you need. consider also legal fees, business permits, trade permits, tax, etc.
