Starting your own business – Some questions from
IVC Malta…. A college by business for business
The more planning you give to the job of running your business, the more
chances of SUCCESS
These are some questions you
should consider before you start:
- What are my prospects
given that the economy remains a very difficult one?
- Are you the sort of
person who can succeed in business?
- Have you any funds you
can put into the business?
- Are you familiar with the
legal requirements that will be placed on you as a business proprietor?
- Have you considered how
much you will earn during your first year?
- Do you need help raising
finance for your business?
- After business expenses,
including taxation and national insurance, have you estimated what your
salary and profit are likely to be?
- Have you considered how
you can minimise your tax liability so that you keep more of what you
earn?
- Have you considered how
technology can benefit your business?
- Have you decided how the
internet can be used to your advantage?
- Does social media have a
role to play in promoting you and your business?