Why would anyone want to start a small business? One of the positive things that come from poor economy is the surge of small business start ups. Although many will fail, starting a small business, even a part time business, can be very rewarding.
If you need to find reasons why you should pull the trigger on a new business concern, here is a list of reasons why.
Cash is king
Most people need the extra cash that a small business will bring in, hopefully. If you just lost a job, or are on a pay cut, starting a business in your spare time can easy the pain of lost income. If you happened to be in this position, plan your business carefully. Make sure that you do not over extend yourself in the money department.
Security
I have found myself in the position of asking the question, how secure is my job? Today you could argue that few jobs are really secure. For me, its about having a few dollars coming in from multiple sources. This gives me options if anything should happen to my primary job.
Freedom
This is one of the most common reasons given by small business owners. The freedom to make your own schedule, take time off when you want, only doing the jobs that you chooses to do, is an appealing aspect of business ownership.
Accomplishment
When I was a kid, one of my proudest moments was when I made my first $5.00 mowing grass. This may seem like no big deal, but it was. My grand father helped me get started. We added up the cost of a lawnmower, rakes, new blades, gas, oil, and every other expense before I even got started. For a kid the cost seemed overwhelming. So the day I made the first $5.00 was an exciting time.
Taxes
One of the best benefits of owning a small business is that you can deduct the expenses from your taxes. Keep track of everything. Miles that you drive, equipment that you purchase, and lunch with perspective clients. Head on down to your local accountant (or online) and get ledger that you can keep all of your expenses in. You can also buy programs like Quick Books to keep your records together for tax time.
You don’t have to start big, just get started. Make sure to check your local laws and make certain you obtain the proper licenses.
This is not a complete list and everyone has their own reasons. Use the comment section to tell me your reasons for starting a small business.
{ 3 comments }
I agree with your comment about “personal freedom” being so important. Planning your own schedule and not having someone looking over your shoulder is worth a lot.
Thanks for your comment.
What you describe about the reasons for opening a small business is very interesting. Although your description is very simple. But everyone should be aware of the risks of the job that is doing and prepares a way out before he hit a bad risk. Thank you.
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