HOW LONG DOES IT TAKE TO START A BUSINESS?

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If you want to determine just how long it will take to start a business, then you will have to keep several highly important factors in mind. The development of a business will depend upon many crucial factors that are heavily related to the nature of the business itself. From start to finish, the speed of development will depend just as much on the innate structure of the business as it depends on the competence of all involved in the process.

No matter what kind of business it is that you may intend on starting, understanding the length of time that it will most likely take should be one of the first things to establish. The following are some of the most important things that will want to keep in mind when starting a business in order to determine how long it will most likely take.

Staffing Requirements

Depending on the size of the business, there may or may not be a need for a large team in order to satisfy all of the necessary roles for its operations. The more people that you need to employ in order for a business to get off the ground, naturally, the more time that it will take in order to screen and train all of the individuals to satisfy said roles. If you are particularly meticulous about screening the individuals that you select to fulfill all of the vital roles in your business, then the time that you spend recruiting them will be longer.

Registration

The exact format of the business that you decide on will be a significant part of the amount of time required to establish it. Different varieties of business models have different processing times necessary for their registration, and even within these categories, the length of time required for registration will depend on whether or not you pay for an expedited processing period. Two people who both decide to start an LLC in the same business category, for example, may have very different amounts of time to wait for registration if one of them decides to opt for an accelerated registration process.

Physical Establishment

If you intend on operating a brick and mortar business, then consider the length of time required to establish a physical base of operations. If you have already managed to acquire the rights to a vacant building to set the business up in, then you will not have as long of a time to wait as a business owner who is building from the ground up. Even before the process of furnishing and building, there is still the amount of time required to spend prospecting for a location in the first place. The more amount of research that you intend to conduct in order to find a suitable area of business, the longer that it will take for the physical establishment to happen.

Investors

Oftentimes, one of the most most time-consuming factors in the process of starting a business is appealing to potential investors. For factors that range from the economy to the personal discretion of the investors in question, certain varieties of businesses may acquire funding in a smaller window of time than others. The thoroughness of your business plan will likely play a large part in the impact that it makes on potential investors, and so if you intend on spending a great deal of time in putting together said business plan, then the time amount of required for this will need to be considered carefully.

See also: Top 9 Cheap Online Entrepreneurship Degree Programs (Bachelor’s)

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