Lee: There are more than 60,000 small businesses in Detroit (2012 U.S. Census). Small business owners often must use their personal credit and finances to start and bolster the business. If someone is looking to start a business, how should they save up?
Dickerson: There are 30.2 million small businesses in the U.S., employing 58.9 million people — 47.5 percent of the country’s workforce (SBA.gov). If you are making the switch to self-employment, you should set aside 6-12 months of living expenses to tide you over until you can generate reliable income and pay yourself.
We encourage individuals starting a