Top ten reasons to start your own business

Ten reasons why upcoming 2014 could be your year to shine

In 2011 there were approximately 385,100 small businesses in British Columbia; they make up 98% of all businesses and employ over a million people. Sounds pretty good doesn’t it? Here’s what I believe are the top ten reasons why you should consider starting your own business.

1. Be Your Own Boss

For once you can be your own boss and be in charge. You’ll have the flexibility you’ve always dreamed of and this gives you the chance to make all the crucial decisions.

2. Follow Your Goals and Dreams

Operating your own business will finally allow you the opportunity to embark on that career you have always wanted and envisioned.

3. Profit

The chance to profit in your business is entirely viable. As long as your business plan is structured and you have done your research and calculated realistic budgeting. Also there is always the opportunity for future expansion.

4. Have a Second Career and Subsidize Your Income

If you have a business that is run by others you can always keep the career you are presently in or find another one. This allows the opportunity for dual income at the same time as owning a business.

5. Challenge Yourself

Small business start-up allows you to discover your full potential and take a different path. It gives you an opportunity to learn new things which can be very fulfilling.

6. Huge Opportunity Possibilities

This is your chance to capitalize on the opportunity nobody else was embarking on. It’s your chance to make a thriving business you know will be successful in your community and use this to your advantage.

7. Business Owner Perks

As a rule, you can deduct any reasonable current expense you paid or will have to pay to earn business income. The expenses you can deduct include any GST/HST you incur on these expenses less the amount of any input tax credit claimed. Also there is opportunity to travel for conferences and meet new people and also sample new products. Also let’s not forget the flexibility which allows you to balance your family and your work. But most importantly the overall sense of accomplishment that you will feel by successfully running your own small business. You can take pride in knowing you provide employment for others and have established a business all on your own.

8. Create Strong Relationships

The great thing about owning a small business is you to get to develop more personal relationships with your customers and employees. This can help develop strong and loyal clientele and employees which in turn will help your business thrive to its maximum potential.

9. Choose Your Co-Workers

Having your own business allows you the opportunity to pick your co-workers. Also a great way to hand pick employees that are suited to your business and who can provide the knowledge and skills you will need to make your business a success.

10. Give Back to Your Community

Opening your own small business is an excellent way to provide jobs in your community and also provide a service to the community that it may be lacking. It can be an excellent economy booster and attract tourists as well.

Danielle Gaudreault