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How to Know If You’re Financially Ready to Start a Business

Success

suppliers, margins, and so forth). Market analysis: What are the current trends in your industry? For example, if a relative gives you an intrafamily loan, they’ll want to charge a minimum interest rate so it doesn’t count as a gift (which would trigger gift taxes). What’s your mission statement? Photo by Odua Images.

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Don't charge by the hour! | THE SMALL BUSINESS BLOG

The Small Business Blog

Much of law, accountancy, IT, private medicine etc involves large amount of analysis even before a solution can be even suggested. The law is highly complex and the lawyer does not have all the information at hand before quoting for a job hence it has to be done on a time spent basis. And they do work on fixed price basis in most instances.

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