OK, Go!

2007 saw the start up of more businesses than any previous year since 1988, which is when the record keeping began (could it be all those layoffs are creating entrepreneurs?) The key to a successful start-up begins with your financials.

The most important factor is to gain the sufficient capital to start the business in the first place and to ensure a continuous cash flow. Also be sure to have financial capital available to survive those months that are slow.

And remember: research, research, research! Make sure there is a gap in the market. Don't just assume that because you have the idea is going to take off. Put yourself in the position where you know you will succeed!

Did you start your own business in 2007? How did you succeed? [ITWales.com]