Have you ever dreamed of owning a small business but never taken the time to realize the idea? If so, now is a better time than ever before to start the small business of your dreams. Building a business takes persistence, hard work, dedication and passion. That combined with a profitable idea can make your small business a success. If you have a great business idea, are ready to work hard (and with passion, persistence, and dedication), but are hesitant to take the next step, here are three reasons why you should start a small business now:
- We’re Still Recovering from the Great Recession – Starting a new business in a down economy is good idea because you can enter the market when others may be hesitant to do so. If you have a proven (or innovative) business idea where your company can be “first to market” you could see your business take off fairly quickly. Many people may think that starting a business during an economic downturn is a bad idea but keep in mind that many of the companies in existent today where start during a depression or tough economy. You never know, your company could be the next Geico, McDonald’s or Samsung but you will never know unless you take the leap!
- The SBA is Committed to Funding Small Business More Than Ever Before – The SBA (Small Business Administration) has dedicated significant amounts of funding to development and growth of small businesses. This is because they are well aware that small businesses are the job creators in this country. This means increase access to funding for you as a start up business owner. You will most certainly need to raise capital for your business at some and it’s wise to make the SBA on of your primary resources when searching for funding. Their Microloan program was designed to fund start ups and businesses in underserved communities. You could obtain up to $50,000 in funding for your start up through the SBA microloan program.
- Start Building Generational Wealth – Starting a new business could definitely contribute to building wealth within your family. If you have the desire to start a business that you can pass off to your children or other relatives, starting a business now may be the right thing to do. The sooner you start the business, the sooner you’ll be in a position to build wealth for yourself and future generations. Like the Snicker’s commercial says, “why wait”?