Setting a business while working

Philippines
November 10, 2012 10:47am CST
I've been working for about two years right now. I still have a little savings. I am planning to put up a business. Can I just ask what is the best age to set up a business? Do I need to have a partnership just make is a sole business? What are the things I need to consider?
4 people like this
10 responses
@911Ricki (13588)
• Canada
11 Nov 12
I don't think you have to be a certain age, but need the money behind you. I know many at any age set up a business but dont have the money behind them and it goes under. It takes a lot to start and keep a business going.
• Philippines
11 Nov 12
Yes! :) Thank you for the comment 911Ricki! :)
@ARIES1973 (11426)
• Legaspi, Philippines
10 Nov 12
Hi steve! I wouldn't be surprised if one day you will be saying that you are one of the most successful people in the world of business. Personally, I would suggest to start small. I would be better if we are growing with our business particularly that you also have you permanent job. I also have the same plan and so far I can say that internet matters really interest me but as I can observe in our place, it is already flooded with internet cafes so I am reconsidering some other options. Good luck on your plan, I know you can do it. Have a nice day!
• Philippines
11 Nov 12
Thanks Aries1973! I will consider that. Actually, I will study first to help me more knowledgeable about the business I am going to set up.
@anaknitatay (1335)
• Philippines
16 Nov 12
hello, there is no "right" age to start a business but there is a right time. Make sure you have the: - right capital - right time - right location - right mindset and remember you don't have to quit your job and start big right away, you can start your business small and do it part time. what is important is you follow through. good luck!
@jaiho2009 (39142)
• Philippines
10 Nov 12
There is no age limit or age standard when it comes to business. Some people start their business at an early age, depending on their capability (mentally and financially) If you are thinking of a big one and you need a good amount of money, maybe then you should consider a partnership. But you must be aware of the consequences of partnership in a business (small or big) You must consider your time too, since you want to start a business while working,still you need to give a certain time to check your business and knows the progress of it from time to time.
• Philippines
11 Nov 12
Thank you jaiho2009! :)I will take note of that! :)
@natliegleb (5175)
• India
19 Nov 12
its easy if once and for all you follow the correct methodologies of sorting and working it right and getting a proper balance rightly
@kat_2x (105)
22 Nov 12
you need to consider the type of business that you want is it a small business or a big one? you also need to consider the location of your business. :)
@KrauseHome (36448)
• United States
12 Nov 12
Well, one of the Best things you need to decide when wanting to start a Business of any kind is deciding what type of Business you are wanting to run, and then finding out what type of License requirements this might entail. Or is is just something you are mainly wanting to do online? Personally I prefer running my Own business by myself and being in charge, but that choice is up to you. You will also have to decide the type of inventory you need and where you will try selling your product from. Whether from your home, online, or a store front, and decide what type of money you will need to get started. Personally it is a lot of work, and decisions but when you're ready and willing to do what it takes it will all fall into place. Wishing you the Best.
@tedifa (1232)
• Indonesia
13 Nov 12
well,you're prepare for your future very well,i think to starting your set up business you can start at 20 years old.At that age your personality has been explore and your mind is in progress.I prefer starting my business by my self,but sometimes i need to share with my friends or the expert about business problem.If you like to have a partnership please be careful about the accounting management.
@Shavkat (137168)
• Philippines
11 Nov 12
If the capital is feasible to have business then you can go for it. But if not, the option is to have partners or loan something from the bank to cover up the business. Good day!
• Indonesia
11 Nov 12
I try business at 2 years ago . Until now I still continue my business. There is no limit minimum or maximum to start business. If you have knowledge about your business, just start it now. But make sure you have backup fund enough. Or you can loan money to your family or Bank to start business. Be entrepreneur right now. That's what we call freedom financial