10 reasons to start a business
Why should you start a business? From being your own boss to the chance for more creativity, find out the advantages of becoming an entrepreneur
With the right planning, effort and a little bit of luck, this year could be a great year to start a business. But why would you want to go it alone in the first place? What are the advantages of starting up a business?
Here, Startups gives 10 great reasons for starting a business…
1. You are your own boss
Sick of your manager giving you a hard time in a job you loathe? If you start up your own business, the only person you have to answer to is yourself. Being your own boss gives you the freedom to do things your way and implement your own plans.
Of course, you live or die by your decisions, but that's what's good about it isn't it?
2. You get to do what you're interested in
If you are stuck behind a desk selling insurance over the phone to uninterested pensioners, the chances are that you would rather be doing something else. The good thing about being an entrepreneur is that you choose what kind of firm you start up, and where.
So, providing that you've done your research properly and there is a gap in the market, you can turn a hobby or interest into a profitable enterprise.
3. Your business = your deadlines
Clocking on and off in a drab job that generates profits for your cigar-chomping boss can become slightly soul-destroying after a while. Start your own firm and you get to set and meet your own deadlines.
You won't be able to just lie in bed until 2pm thinking that you might do a few hours of work after your favourite television show has finished – you will need self-discipline. But meeting your own targets can be a huge motivation to work hard and drive the business forward.
4. Get creative
If you have considered going it alone, you will have thought out how you would do things your way. Being an entrepreneur gives you the freedom to express yourself and develop your concept in any way you choose. Of course, there are always financial constraints, but the ability to be as creative as you like is far more appealing than a one-dimensional job.
5. It's not that hard to do
The news is full of stories about the amount of red tape and taxes that small businesses have to face on a daily basis. However, over the past few years, several measures have been introduced that should make it easier to go it alone. From the Enterprise Finance Guarantee to various inner-city projects, the government certainly can't be accused of doing absolutely nothing for budding entrepreneurs.
With the Prince's Trust, business loans and other support organisations also up and running, you should be able to secure the help and funding needed to get you started.
6. It can be very profitable
If you think that it's just large corporations that make big profits, you would be wrong. There are countless stories of entrepreneurs hitting on a great idea, exploiting it well and being well on their way to their first million by the end of the year.
Although the start-up process can be tough, with long hours and little money not uncommon, if you run your business well, the rewards can be huge. And, from a purely selfish point of view, you will get most of the profits yourself.
7. It's varied
Dealing with spreadsheets one minute, suppliers the next and then having a look around your new office – an entrepreneur's work is not just busy, it is also extremely varied. If you are uninspired by your monotonous job, starting your own firm will keep you on your toes and stretch your abilities to the maximum.
If you want a career where every day is different, going it alone could be for you.
8. You can have a second career
Of course, if you don't fancy giving up a regular income, you can always get the best of both worlds and stay as an employee while running your own firm. Although juggling the two can be tricky, having a successful sideline should be a very profitable option. Do something that you are interested in and go for it.
9. Cut the commute
Although most small firms operate from offices, many entrepreneurs find that operating from home reduces costs dramatically in the early stages. As well as providing familiar, comfortable surroundings to work in, if you are based at home you do not have to endure the daily tangle with public transport or clogged up roads.
10. The big dream really can become reality
You may feel that starting up a small business won't lead to anything more than having your own desk and taking on a few extra staff so you can open that branch in Bracknell that you always planned. However, it is possible to make it really big – just look at the late Anita Roddick, who became a Dame thanks to her entrepreneurial achievements.
She started a small shop in Brighton on a shoestring in the 1970s. Before long, she had a chain of Body Shop stores across the UK and was launching her concept in the USA. So, if you dream of being the next Richard Branson, don't dismiss it at a mere fantasy – it really could happen.
So, what are you waiting for? Follow our 10 steps guides for how to start a business to make your business idea a reality.