When applying for a license, how many months of start-up funds must a licensee have available?

A licensee must have three months of start-up funds available when applying for a license to ensure proper financial stability and sustainability during the initial phase of operating a business. This requirement is important because it helps to cover essential expenses, such as rent, utilities, staff salaries, and other operational costs that may arise before the business becomes profitable. Having three months of funds set aside acts as a safety net, reducing the risk of financial hardship and increasing the chances of the business's success in its formative stages. This standard is often established to foster responsible financial planning and ensure that new businesses can maintain stability as they grow and develop their customer base.