How Long Does It Take to Start a Business? An Informative Guide

Starting a business can be an exciting part of your life. It can also be a whole lot of work. With 6.5 million new businesses forming each year in the United States you will have a whole lot of competition no matter what field you are in.

When analyzing your business timeline you may be wondering: “How long does it take to start a business?” This is a multifaceted question based on multiple different variables. Learn more by reading on.

Type of Business

One of the major influencing factors in determining how long it takes to start a business is what type of business you are planning on starting.

A small business or LLC may only take a municipal or state business license and a little bit of help from a professional accountant. Larger franchises may require additional licenses as well.

If you are planning on starting a large business such as a nationwide or multinational corporation this will take much more time and effort.

Determining the type and scale of business you wish to start is the first step in determining how long it will take to get this business off the ground.

Online or Brick and Mortar?

Will your business mostly online, or will you have a brick-and-mortar location as well? Where will you house your inventory and how will you coordinate your logistics and supply chains?

These are the questions you need to ask yourself when starting a business. The answers to them will influence how long it takes to start your business.

If you choose an online option you will need to find someone to develop and host your website. You will also have to figure out how you will store and deliver your products.

If you choose a brick and mortar option you will need to find a physical location to rent and deal with the same logistical and warehousing concerns.

Even if you are in the service industry you will need some basic materials. You will also need to think about hiring employees. All of these things take extra time beyond just incorporating your business.

Most businesses utilize a combination of both online and in-person aspects. This gives them fluidity in the dynamic modern marketplace.

How Long Does It Take to Start a Business?

In the simplest terms, starting a small home-based business may only take a few months. Large manufacturing businesses or multinationals may take over a year and sometimes longer to start.

It all depends on how savvy of a business person you are and the extent of your business goals. It is always better to start small until you know what you are doing to avoid failure.

If you want to view more tips on how to start a business try doing a bit of research or contacting a respected business person to see how they did it.

Never Give Up

The business world can be cut-throat and challenging to navigate. Keep this in mind during your initial business process of getting started. Try starting a small business first to avoid failure.

Don’t give up and map out a solid business timeline so you can develop the answer to the question: “How long does it take to start a business?” in your case. Then check back with our site for more interesting news and info.