the most important thing to have at this moment in time is a well thought out business plan and not just a dream .
Do you have a specific product to make and sell , or , is it banking on the chance of taking on local contract work at which you probably up against well established shops . A large percentage of business's fail and thats because they either couldn't get the work , or the business wasn't very well thought out . You can buy the best or the worst of equipment but it means nothing if it's sitting .