Starting a business can be the perfect opportunity for you to take control of your life while pursuing a passion. The thought of entrepreneurship can be frightening and that is why most people don’t pursue this path. Here are some interesting statistics you should know about:
- Black female entrepreneurship has increased by 337% since 1997
- The fastest-growing group of entrepreneurs is Black women. However, 56% of Black women don’t have access to capital.
- There are 4 million Black women-owned businesses in the US and you can be next
Coming up with great ideas is easy. Putting those ideas into action, now that is the hard part. In order to turn your dream into reality, you need to have the right information and motivation. I want to encourage you to take the first step.
These are my top 5 reasons why you should start a business:
- Financial Independence: Money, Money, and Mo’ Money! Having your own business allows you to create several income streams.
- Tax Benefits: Write off expenses but beware of that “self-employment tax.”
- Flexibility and Freedom: Uh Hello, You get to do what you want, work when you want, and vacation when you want.
- Legacy Building: It’s an opportunity to leave something behind for your family.
- Change the World: It may seem like a fantasy but you never know. Your product or service could change the world.
Here are a few more reasons that may motivate you to start up today:
- Personal fulfillment
- Job security
- You might lower your taxes
- You can create jobs
- You get to tap into your creativity
There are probably 100 more reasons to start a business. The desire, drive, and determination must start with you. In today’s economy, it is easier and more convenient to start a business from your home. For more resources and assistance, go to the Small Business Administration’s website on www.sba.gov. Remember, there’s no success without sacrifice.
Until next time,
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