One of the main reasons that viable and otherwise sound businesses fail is that owners lack financial resources to weather the first difficult months and even years. Starting a freelance or other home-based enterprise can be a lucrative venture, but it is highly unlikely the rewards will roll in early in the game.Most business advisors recommend that a new business owner sock away enough money to support himself for a year or more before embarking on a business.This does not mean that the business will not take in money, even early on. Most small businesses will do a little business at first and maybe even a fair amount of business in a short time. However, small businesses will have a disproportionate amount of expenses in these first months and years.You’ll be surprised by the expenditures you’ll have in the first year; you have to buy all of your equipment, supplies, permits, software, and so on. These seemingly minor items can end up costing you thousands of dollars. Covering those expenses can be tough. Even when a new business starts to earn money, it is not unusual for it to post losses in the early months because necessary expenditures simply […]

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