Of course you can! You’ll improve your chances of success if you do background assessment and planning and ask for help when it’s needed.However, the most important success factor is that your idea must ultimately have demand. It must either solve a problem or satisfy a need; this in turn will create a market.

You are right about the expense of market research companies. In general, this can be an expensive approach but there are some things you can do yourself to make a market determination

A business plan is a structured document that is a sales pitch for your new or expanding business that you will use when attempting to obtain bank loans.

The business structure that you choose will have legal and tax implications.

Most small businesses are formed as sole proprietorships. The advantages of sole proprietorship are its simplicity and the fact that business income is treated the same as personal income for tax purposes. A significant disadvantage is that you, the owner, assume personal liability for the actions of the business

As much as you can reasonably afford, and in an amount to at least carry you for 6-9 months with no income. What you will find is that it always takes you longer to get revenues, and that you will experience more expenses than you anticipated.

It will depend on the nature of the business. To find out the list of licences or registrations required for your business type, please go to…