What should one consider before quitting a job to start a business?

Quitting a full time job to start a business means foregoing the assurance and social security of a monthly income. It also means venturing into something that could either lead to financial freedom or to lack. Elizabeth Buhungiro asks: What are some of the things people should consider before quitting their jobs to start business?
Alphonse Uworwbayeho, lecturer
Alphonse Uworwbayeho, lecturer

Quitting a full time job to start a business means foregoing the assurance and social security of a monthly income. It also means venturing into something that could either lead to financial freedom or to lack. Elizabeth Buhungiro asks: What are some of the things people should consider before quitting their jobs to start business?

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Personally, I wouldn’t advise anyone to quit his/her job to start a business because there are a lot of risks involved. I think it’s best that a person have a business on the side as you continue with your full-time employment. Even after deciding to combine business alongside a regular job, you need to assess yourself to find out if you can pursue two things at the same time. Otherwise you risk losing out on both of them.

Julienne Uwezabe, enterprenurship student

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Quitting a job to start a business is a risky move and so before making such a decision, it’s important to consult a business expert so that they take you through what is required and how to handle the challenges you are likely to encounter. Only after getting adequate information and understanding everything should you then decide whether or not to go ahead and do business.

Paul Oga, teacher at Green Hills

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When you have been saving for a long time and you are certain that you have the capital you need to start and manage a business, you can go ahead and quit your job. I think that it’s good to quit if you want to start a business because then it means that you have enough time to monitor every aspect. You are also in a better position to handle the challenges because I believe that there is no business without setbacks.

Alphonse Uworwbayeho, lecturer

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It’s important to do comprehensive research on the kind of business you want to do, the potential market and the customers. You can’t account for all the risks you’re going to take by quitting your job to start a business but entrepreneurs are always risk takers who are courageous enough to make such decisions. Your success depends on your determination and passion for the particular business that you want to undertake.

Hurun Rutaganda, business person

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His Excellency, President Paul Kagame said that it is a solemn honor for him to accept the call to serve as the chairperson of the African Union. Such a position also brings honor to Rwanda and it portrays a good image of the country in international affairs. President Kagame will play an important role towards African countries having a single market, the integration of their infrastructure and technology, leading to continental economic growth.

Irene’Mizero, founder of Mizero Care Organization (MoC)

 

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