Making the call—Is starting a business from scratch the right strategy for you?

In general, individuals who have prior business experience are best-suited to start a business from scratch. It also helps to have access to start-up funds through personal savings or via loans from friends and family. These are not hard-and-fast rules, however. Many people have started successful businesses from scratch with no prior business experience and limited start-up funds. The best strategy for making the call is to weigh the advantages and disadvantages of starting a business from scratch against the alternatives for your own circumstances.

In general, individuals who have prior business experience are best-suited to start a business from scratch.