2006-08-14 07:31:13 · 1 answers · asked by mzbunni 1 in Local Businesses ➔ United States ➔ Washington, D.C.
It would depend how much debt you're in, whether the debt is critical (i.e. foreclosure, bankruptcy pending etc) or just normal debt on loans, credit cards etc.
Would also depend on the type of business, how much capital is needed to start the business, what returns you expect and when.
If your current debts are under control AND you have the financial means to start your business AND continue to finance the business AND meet all your commitments until the business becomes profitable then I don't see why not.
You need to think ahead - what will your fiances be like in 1, 3, 6, 12 months etc. Can you continue to finance the business whilst it becomes established.
Hard to give an objective answer with so little info to go on. My advice would be to discuss your plans with a business consultant or accoutant.
2006-08-14 13:27:50 · answer #1 · answered by Trevor 7 · 1⤊ 0⤋