How Can Your Personal Finances Affect Your Goal of Starting a Business?

Each year, an estimated 627,000 new businesses are launched. Although the idea of owning your own business is a dream for many, it is an expensive venture in nearly all cases.

The average cost to start a microbusiness sits at approximately $3,000, while many traditional businesses require about $30,000 at the beginning. One of the biggest hurdles for all new entrepreneurs is obtaining the necessary funding to start and grow their business.

Personal Finance Can Affect Business Goal

Because these individuals do not yet have the ability to report their earnings and losses, one of the biggest ...