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Taking on staff

If you have your own business then you may need to employ additional staff. Often companies start off with one or two employees and they grow over time as they get more business in but for other companies they need to start the business off with a large number of staff from the outset.

For many business owners this can be a huge risk, having to guarantee staff wages before you know what money you have coming in. It may be that for a number of months you have to personally fund the business before it starts making enough money to pay for the staff you have.

If at all possible, you may consider taking on subcontractors. It may be that you do not guarantee them a set income or number of hours, just call upon them as and when needed. This way you only incur their costs when you know you have money coming in.