Introduction: Could you succeed in small business?

You may have many reasons for wanting to start a business. They may include wanting to make money, having personal independence and self-fulfilment, or escaping the frustrations of employment – and unemployment. Your reasons may be good ones, but your decision must be based on more than simply a desire to change your situation. A new venture is risky. It may make heavy demands, financially and time-wise, on you and on those close to you. It might not provide you with security such as a regular pay cheque, medical and dental benefits, and a pension plan.

One of the first steps you should take in making the decision to start a small business is to determine if you have the right skills and temperament. You have to be as honest with yourself as possible.