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The real price of business

2012 may be the year that you set up your own business, whatever it may be, the team at Select Factoring are looking at the real cost of going it alone.

Starting with the basics, as a sole trader you may not need to outlay much cash at all, especially if you already have a computer, the internet and are providing services such as administration, writing and design. The only cost you may need to consider here is if you have clients coming to your house on a regular basis, it may be advisable to have some insurance.

For those skilled sole traders that are providing services such as technical, mechanical and manual, hopefully you would already have tools and transport, but if that is not the case there will be an outlay for those things.

Where does the money come from? You could invest your hard-earned savings, you could try to talk the bank manager round, you could possibly take out a business loan or a normal loan, but are these options feasible?

Starting an on-line business or opting to build a website can also be a great outlay, if you choose to do something yourself you are going to be saving some money, but the danger of this is, unless you are an SEO expert or web designer, your site may sit doing nothing.

Investing in your web presence is a great way to get your name out there, the cost may be large but the work that can come through on-line customers can be regained if the site is built properly.

There are always going to be some costs to starting a new business, you maybe lucky in that someone you know is willing to invest in that company and providing you with the funding you need to get your small business off the ground.

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