Building corpus for your startup on the side? Here’s what you should do before you save for business expenses
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Rajshree Jhawar of ArthaSarathi says founders should prepare their finances before starting a business.
- ✓She advises, "Your business needs money, but your family needs financial security, too." Divide your savings into three parts: family safety, long-term goals, and startup funds.
- ✓Always test your product idea before spending your hard-earned money.
Story at a Glance
- Category
- BUSINESS
- Reported By
- Livemint
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
You have a job, and you often toy with the idea of forming a startup. Well, starting a business starts with questions about ideas, customers and company registration. But another question deserves attention first: Can you afford a startup?
Rajshree Jhawar, QPFP®️ of ArthaSarathi, advises founders to prepare their finances first. Your business needs money, but your family needs financial security, too. Mixing these needs can bring business worries into your home. Before starting, divide your money into three separate parts.
First, create a family safety fund. Add up expenses, including EMIs, school fees, insurance, medicines and daily needs. Keep a larger reserve if you plan to leave your job. Business income may remain uncertain during the early months.
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