If you have a desire to start a business, you should explore this seriously and avert the risk of wondering what could have been. It is often said that some are born entrepreneurs and some learn to be entrepreneurs. Either way, all agree that business comes with immense challenges, particularly when starting and growing one from scratch. But being an entrepreneur comes with great benefits and advantages. This article seeks to highlight several entrepreneurial benefits that make business an idea well worth pursuing.
Independence
As a business owner, you have the capacity to make all the decisions that are best suited for your business. This is immensely liberating. By being your own boss, you have an intrinsic understanding of where you want your business to be in the near future. You have the authority to appoint individuals who you consider to be suitable for your business, and so design your ‘dream team’.
As a business owner, you further have the advantage of not worrying about being laid off or losing your job as in a typical job. You are your own boss and you decide your business’ fate through the quality of your decisions and actions.
Capital freedom
Because you are starting your own business and not buying someone else’s, you have the advantage of not having to deal with existing cash-flow complications or debts. You also decide how much capital to invest in the business, how to allocate it and where to source it from.
If at a certain point you feel work is no longer beneficial or challenging, you do have options. You could sell the business in one of a few available options, hopefully at a healthy profit or try to recoup your initial investment at least. You then have the freedom to move into a more desirable business venture.
Clean slate
Every new business starts with an idea or motivation. It is true that some may resent their career choice; others find a gap in their industry or sector while being employed. Some simply have an innovative business idea and a burning desire to pursue it. All of these options have one thing in common – they all offer the individual a fresh start in something exciting they desire.
Opening your own small business and doing what you are passionate about can give you a brand new chapter in your life and a strong sense of personal accomplishment. The best part is, you can start any business. You can never be too young or too old as history has proven. And we’ve learnt from many of the great business visionaries that there is no limit to the success one can achieve, once finding their element in terms of business.
Employment creation
The number of unemployed graduates is rising each and every year. It is immensely discouraging for a large number of graduates to find that securing a job that pays commensurate to their investment in studies, is not as easy as initially portrayed when enrolling into college.
The future of our country lies in the balance as there is a brain drain with much of the top talent leaving to other parts of the world and some even giving up and settling for mediocrity. Those who choose to pursue their dreams also bring hope to other potential entrepreneurs. Not only that, but by encouraging the entrepreneurial spirit and by the creation of new businesses it is invariable that jobs will result as a byproduct. As an entrepreneur, it is fulfilling to know that you can help build society and reduce the unemployment rate in the process.
There are a host of reasons that make starting a business richly rewarding for entrepreneurs, least of which are the dismal statistics of unemployed (including skilled and educated) individuals. There are now a number of business incubators, small business development initiatives, government efforts and opportunities that support new businesses. If you have been holding back because of negative reports and other limitations, perhaps it is time to reorient your focus and look at some of the great reasons why starting a business is still a great decision.
Proudly brought to you by the National Small Business Chamber (NSBC).
