please guys, if you are starting a new business, is there a stipulated time for breakeven? or if a new business at the end of 1 yr breaks even, is it ok for the company?

Breakeven point in a business is that point where Total Cost equals Total Revenue. There is no fixed time this point is reached in a business. It could be on the short run (within or at the close of a year) or on the longrun ( over a year).

Simply put, if I invest 1million and after sales, I get back 1million in revenue, I have roken even.