Also, ensure you have sufficient capital to carry you for at least one year. My experience has been that the first year you do make sufficient income to support you and your family expenses.

If the spouse is working - even better, as this does relieve the stress of no money. Remember that over 90% of business fail in the first year or two, mainly due to financial issues.

My moto has also been that I do not take an order on whcih I can not afford. In other words, if I do not have the capital to finance the order, I try and avoid it. The reason, is that all you need is the debtor to default in his payment, whether it being late due to non performance, or just because they are a larger organization they can string you along, or even the debtor disappears, you need to now service the cost of that order