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Industry News

The benefits of starting your own business

The majority of small business owners who responded to a 2013 survey by Inc. said their companies experienced significant growth in the last 5 years.

The majority of small business owners who responded to a 2013 survey by Inc. said their companies experienced significant growth in the last 5 years.

In December 2013, Inc. surveyed 5000 entrepreneurs who have been featured on the Inc. 5000 list over the last 10 years. Of those business owners, 63 percent responded that their business is currently worth "much more" than it was five years ago, and 26 percent stated it was worth "more."

Additionally, 37 percent of the survey's respondents described their business prospects for the following year as "excellent," and 45 percent rated them "good." The survey results also showed that small business owners planned to hire more employees. These statistics make a strong case for aspiring small business owners to get the ball rolling.

Inc. contributor Darren Dahl offers even more motivation for diving into entrepreneurship:

  • You get to make the major decisions that mold the company's culture and define its goals for growth. This, says Dahl, leads to building a stronger brand.
  • Once your small business is up and running, you'll be able to set your own hours and create an ideal work environment.
  • You can't choose your family, but you can choose who you work with. Small business owners have the power to hire compatible employees and colleagues, as well as let go of those who don't pull their weight or bring a negative attitude to the table.
  • Though starting a business is somewhat of a risk, it offers substantial rewards. It also enables you to learn from your mistakes. The feeling of satisfaction after overcoming an obstacle can be just as empowering as financial gain.
  • There are countless opportunities to learn and grow, and you can challenge yourself in the specific areas in which you'd like to improve.
  • You can make a living doing what you love.

These factors, along with the feeling of pride many small business owners feel, compel many entrepreneurs to start their own businesses.

If you are looking to start a business and want to learn about the benefits of incorporating, contact us today.