Starting a business with your best friend: Financial aspects to consider

Due diligence is a vitally important step in the process of setting up a business, one that can help you save both time and money. Below you will find a list of financial concerns and questions to consider as you prepare to launch your business.

Financial aspects questions

• How much personal liquidity would you be willing to commit to the business as a maximum amount?
• Do you expect to take a salary? If so, how much?
• How do you expect to split the profits?
• Will any profits made be pumped back into the business? If so, for how long?
• When would you consider the business to be a profitable and financial success?

If you need more inspiration for relevant questions to ask before launching a business with your best friend, we recommend downloading the 79 questions to ask before starting a business with your best friend white paper.