Starting your own business is an exciting idea. But there’s a lot to weigh up, as well. Here are some of the things you’ll have to think about when you’re deciding if it will work for you.
The good side
- In charge. You come up with the ideas, and you take the lead
- Free to try out something new
- Able to decide when and how you do your work
- Creating something new, making an opportunity for yourself, rather than waiting for one to turn up
The practical side
You’ll have to deal with:
- Finance – from setting up grants and loans, to dealing with your income and expenses
- Taxes – both your own, and any staff you take on
- Finding premises if you need them
- Marketing your business, finding clients and making it a success
Some of those things will take time away from what you really want to do with your business. It doesn’t mean you shouldn’t do it, just that you need to be prepared for both the fun side and the practical side.
There’s a lot of hard work involved – but that might suit your strengths perfectly. You’ll need to be resilient and quick-thinking to keep going when things don’t go to plan