Why Start a Business?

Posted:Abigail Andrews – Friday, October 26th, 2007

So you’re thinking of starting your own business? You want to escape the mundanity of nine-to-five employment; maybe you can’t stand working for anyone else for a minute longer; or perhaps you’ve just been made redundant or simply have an idea that’s too good to go to waste. Whichever it is, that first entrepreneurial seed has been sown, and before long you will be starting your own business.

Who do you think of when you hear the word entrepreneur, Richard Branson? Alan Sugar? yes they are 2 of the most successful entrepreneurs of the last 30 years but actually an entrepreneur is anyone who chooses to go it alone and make the most of a business opportunity for themselves no matter how big or small.

In recent years this is becoming a legitimate career choice for more and more people. Gone are the days when you had to have years of business experience under your belt before you might even consider taking the plunge with a startup of your own: nowadays everybody's doing it.

Starting your own business can help you on your way to financial freedom, but doing that alone will not allow you to be completely free. As an entrepreneur you will spend much longer than the average person working, that is if you want your business to be successful. However, once you have got your business off the ground and can hand the reigns over to your staff you are well on your way to being free so it is just another option on your quest to be financially independent.

Why do people start a business?

People choose to become entrepreneurs for a variety of reasons:

• spotting a gap in a market they know well
• an opportunity to escape their mundane nine-to-five existence and to commit their working lives to something which is a lot closer to their heart
• for 'lifestyle' entrepreneurs the important part of the deal is not how big their business ends up but the effect in has on their lives.
• and of course there are those that think they can make lots of money (and most of them think its easy!)

Your aim maybe one or more of the above. So take that dream and make it a reality! But rememebr, it is easy to start a business but very difficult to make it successful!

Reasons to start a business

You are your own boss

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

You get to do what you're interested in

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.

Your business, your concepts, your deadlines

Start your own firm and you get to set and meet your own deadlines. Of course, you won't be able to just lie in bed until 2pm thinking that you might do a few hours of work later but meeting your own targets can be a huge motivation to work hard and drive the business forward. You also have the ability to explore new business concepts / formulae and there are no restrictions on your business methods. You drive the business!

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 that a monkey could do one-handed.

Many organisations offer support / subsidies / funding

The news is full of stories about the amount of red tape and taxes that small firms 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 Small Firms Loan 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, Shell LiveWIRE and other support organisations also up and running, you should be able to secure the help and funding needed to get you started.

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 startup 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.

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.

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 very profitable option. Do something that you are interested in and go for it.

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.

The dream really can become reality

You may feel that starting up a small firm won't lead to anything more than having your own desk and taking on a few extra staff so. However, it is possible to make it really big - just look at Anita Roddick, who is now a Dame thanks to her entrepreneurial achievements so don't dismiss your dream as a mere fantasy - it really could happen. What are you waiting for?

Great sense of achievement

Wouldnt you love to say 'I told you so' to those who doubted you! If you start your own business and work hard you may well do that one day!

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