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    Nii Laryea's Avatar
    Nii Laryea Posts: 1, Reputation: 1
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    #1

    Aug 17, 2012, 04:17 AM
    Opportunity Cost
    You have a choice of opening your own business or being employed by someone else in a similar type of bisiness, what are some of the considerations in terms of opportunity cost that you would have to include in arriving at your decision.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    Aug 17, 2012, 04:36 AM
    Are you skilled at running your own business

    Do you have the funds to operate a business for at least a year with little or no profit.
    Most small business go out of business in 3 to 6 months because the owner can not pay thieir own living expense and business costs out of savings, they expected business to be paying all of them too fast.

    Can you manage your own time well.
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