Other BAM start up issues  Welcome back!
Last time we talked about questions important to considering what type of business might be appropriate for a BAM in your area or ministry.
Once you have identified some candidates, more questions become important.
- What is the competition in the community for the product and/or service you are considering?
- What might the competitive reaction be to your business?
It is certainly important to have full understanding of applicable regulations for businesses in the location:
- Tax codes
- Forms of companies allowed (e.g. corporation, sole proprietorship, partnerships, etc.)
- Differences between how “for profit” and “non-profit” businesses must be organized/managed etc.
These will vary from country to country, and possibly within a given country.
In addition to more or less standard opportunity analysis, prayer is a particularly important component in this studied approach to discovering BAM possibilities.
How will you create the business and manage it for His purposes? This requires prayerful planning.
Next time we will look at some actual examples.
Next posting is planned for Sunday, November 1, 2009.
Many thanks,
Larry | 
