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10 Reasons to start a small business

Last year over 500,000 people started a new business in the UK - this continues to underpin the UK’s realiance for small businesses in the UK economy and shows the continued entrepreneurial qualities we have been taught in schools and possess naturally.

It’s really easy to start up and get going no matter what you want to do. It costs £40 to set up a limited company and away you go. Are you thinking of starting a new business? Here are 10 reasons why you should start your own small business :

1: It’s easy to start - As mentioned above it’s really easy to set up a company. There are numerous company formation agents who will set up a company for you in about 3 hours. If you have a product and customers waiting you can start trading immediately. (don’t forget to account for everything so you can pay the tax man your profits though….)

2: You can sack your boss - Fed up with the person you call your boss? Think you can do better than the company you work for? Well you don’t need to put up with idiots in the office or bullying any longer. When you have your own business then you are the boss. You set the standards, goals and pricing. You decide what to sell and to whom. (of course you can get it completely wrong so make sure you know what you’re doing !!)

3: No more public transport or traffic jams - wow, sitting in traffic for 2 to 3 hours a day or standing on a train and paying high prices must be a thing of the past. With your own business you can decide where your premises are located or simply work from your home office. Not only will you not have the daily grind with thousands of others but you’ll save the travel expenses and have an additional 2 to 3 hours a day to either develop your business, use for family time or to get all those jobs done in time.

4: You employ who you want to - All those people your boss employs that you have to train up are a thing of the past. Why do people employ folks with no knowledge of the job or disrupt the rest of the office or who turn up late each day? And to think that they get paid the same as you? If you have your own consulting or internet business then it’s just you. But if you expand it’s you who can choose who you have working for your business. No more layabouts but good people working for your business to make more money for you.

5: Redundancy no more - Deperate times call for desperate measures and when there’s a recession looming then costs have to be cut. This generally means marketing and training are cut to the bone and people are not replaced when they leave. Then the big cuts come and of course most businesses over do it and fire too many staff. That threat of redundancy is just not there if you have your own business (of course downtimes have to be met with brilliant products of your own and great marketing - but as we know that doesn’t have to be expensive - just good)

6: Complete satisfaction - When you are making money for yourself and your business develops the pride of what you have achieved is second to none. After all it is you who has developed that business. Imagine in just a couple of years time when you have a thriving business that’s buying you stuff you could only have dreamed of before. That feeling of satisfaction can never be replaced.

7: Get out of a dead end job - do you feel there is no chance of promotion or your face doesn’t fit in the large organisation you’re in? When you are out of the merry go round of “big business” you can concentrate on your business. You’ll know where you are heading because you’ll have a plan of action to develop your business. No more stress on a Sunday night knowing that the week ahead is full of boring nonsense.

8: Make money for you not someone else - All your hard work is for someone else. See all the big profits your company is making because of your knowledge and experience. Why line the pockets of your bosses when you can line your own pockets? All those products you’ve developed in the past could be working for you rather than some faceless corporation. All those customers you’ve won in the past should be buying your products and services to build your business.

9: Life is not a rehearsal - Of course we are only around for 70 or so years so why waste it ? Would you rather be speaking to your grandchildren about the excellent business you started and developed that you’ll pass onto them one day or all the opportunities that passed you by that you didn’t grab hold of. You can start at any time in your life but it’s harder and harder to start the older you get. If you get the opportunity from redundancy or being put out of work then it might be the right time to start and then you’ll have a great story to tell

10: What have you got to lose ? - If you have a great well researched idea, have developed your business plan and run it past some of your friends and relatives and been given the thumbs up then what have you got to lose ? If your idea is really sound then go for it. You’ll never know if you’ll be a success until you try. Perhaps start the initial elements whilst you are still employed so you’ll know early if you can sell stuff. You don’t need to jump in right away so start small. Above all - just get something done.