Starting a business is usually a common goal for most employed people due to various reasons including the search for a higher income, and pursuit of passion or idea, while others quit their jobs to have more control over their work.

However, quitting a job to start a business can be risky because of the potential for financial loss, setbacks, and failure.

Most entrepreneurs admit that starting a business is not a walk in the park as it requires a lot of commitment, and that’s why some people succeed while others fail terribly.

Good Joseph, a Kenyan Youtuber who shares content on financial matters advises Kenyans against quitting their jobs to start a business.

According to Joseph, anyone intending to quit his/her job for entrepreneurship should first create a solid source of income for financial security.

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“There is one thing that people don’t understand. We never quit the job to start a business we usually start a business to quit the job. You should quit when you already have what we call a soft Landing,” he said.

He however noted that running a business while still in employment can sometimes be tricky given that new businesses require a lot of time and attention.

This, he says is one of the reasons people decide to quit employment before starting a business. In such a case, Joseph advises that one should engage in a business that he/she understands to avoid losses.

Among the things he says one should research are business permits and licenses required, product pricing, employee compensations, as well as supplier and distributor information.

“Go sit down with the people who are operating that particular business, know who are the suppliers. Know variety or options as far as the suppliers and the Distributors are concerned. Understand about the licensing and the permits that are required for that particular business,” he said.

Joseph further emphasizes on the right business location choice as location determines various costs including rent, permits, and licensing.

“When you have all these things you can be able to start a business regardless of you being absent and that business has high chances of surviving compared to an individual who just quit the job and starts a business immediately,” he said.