Running your own business can be exciting but also stressful. You will often not have a guaranteed wage and will have to see through the lows with the highs. You need to be good with money in order to manage your finances effectively and budget accordingly.

Ideally you want to keep building your business up over the coming months and years in order to get more customers and in turn make more money. Always remember than new businesses often take some time to get established and start turning a profit. You may have to invest in your business to set it up initially and may make a loss for the first year or so. This can be hard when you have little or no savings so you should plan carefully about how you are going to pay for day to day living costs during this time.

If you are looking to expand your business you need to be sure that you will be able to cope with the extra work load. You may decide that rather than employing people and having to pay them regardless of how much work you have on. This will allow you out when you need their services although you will need to bear in mind this may mean they are not always available when you need them.