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What is the best way to start up a local IT business?

What's the best way to start planning to open my own business?

  • I'm 25 and ever since I was about 16 I knew my ultimate goal was to open my own clothing store or cafe (I know, two completely different markets). I know I'm pretty young still and have a very small chance of getting a business loan at this stage of my life. What is the best way to start working towards this? I am trying to pay down my student loan debt as early as possible as I feel this might be a good indicator that I am money savvy. Should I be working on a business plan? Should I be saving towards a business? Any tips and advice would be greatly appreciated.

  • Answer:

    Most new businesses fail within their first two years for lack of capital or lack of a business plan. Learn before you leap by reading "Small Business for Dummies."

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Most new businesses fail within their first two years for lack of capital or lack of a business plan. Learn before you leap by reading "Small Business for Dummies."

The first step is a feasibility study. The second is a detailed business plan.

The first step is a feasibility study. The second is a detailed business plan.

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