For all my entrepreneurs at heart out there, this is the sign for you to start the business you’ve always wanted. Read on to learn the reasons why you should to take those next steps.

1. You call the shots.

   The first and most important reason is pretty obvious. If you start your own company, you will be the one making the big decisions. If you’re someone who doesn’t want to stay in a job where everything is determined by a strict hierarchy and all your decisions are made for you, starting your own business is definitely something to consider.

2. Control your own schedule.

   This reason is similar to the one above. If you don’t want to be stuck working a 9 to 5 for the rest of your career, you will definitely not need to stay in this fixed schedule once you start your own business. Of course, the early days of your business will require more time and energy, especially as you’re trying to get your business on its feet and running. But once you pass that early stage, you will be able to control how much time you want to invest as the CEO.

3. Achieve job security.

   As the boss of your own company, you’ll no longer need to worry about being laid off or handed the pink slip. Once you start your own business, you won’t be plagued with worries about climbing the corporate ladder. When you start your own business, you are investing in your future and the futures of your employees. Not only will you have your life in your own hands, you will be able to provide jobs to so many others.

4. Build your own brand.

   When you work at a company, you represent them. As a normal worker in a large company, you get detached from your personal values and contribute to someone else’s vision. Starting your own business is a chance for you to bring your own vision to life. You get to put your own name on the map and work according to your principles.

5. Learn new skills.

   As the boss of your own company, you’ll need to dabble in multiple fields within business to get your company started. Whether it be headhunting, budgeting, delegating, or marketing, you’ll need to learn these skills in order to ensure that your company runs smoothly.

6. Attain tax benefits.

   For new companies, the government grants tax breaks and tax benefits to small businesses that might need some support when starting out. As a small business owner, you’ll be able to deduct taxes for anything from magazine subscriptions to travel mileage to even part of your rent if the government approves it. In order to ensure that you set your business up in the most beneficial way, work with a financial planner or accountant to navigate tax laws.

7. You can be creative.

   This is your business and you’re the boss! You get to decide what your business does and represents and how it appears to the greater audience. There is no “right” way to run a business. You get to run your business the way you believe is best.

8. Solve a need.

   Do you see something in the world that needs to be changed? Do you have a solution that is just itching to be realized? You can make it happen. By starting a business, you can build a brand works to make an impact on society for the greater good.

9. Increase your earning potential.

   For most 9 to 5 jobs, there is a cap on the amount of money you can earn in one day. As a worker in a company, the amount you get in a day is based on your salary, which can only be increased by a rare bonus or promotion. If you start your own business, you get to decide how much money you make. If you want to make more, work longer hours. Businesses are also known to have great potential to blow up and become successful. With a clear mission and a smart strategy, you could potentially earn more than you ever did as an average salary worker.

10. Pursue your passion.

    Starting a business is a chance for you to pursue that dream or passion you’ve always wanted. You are starting your very own business and the sky’s the limit. Do something that will make you happy and give you fulfillment in your life. Once you figure out a way to turn your passion into profit, your work will be so much more enjoyable.

If you’re not convinced of the benefits for starting your own business yet, fear not. Small businesses has grown tremendously over the past few years and has become a playing field which anyone can become successful. As a woman looking to start a business, you have plenty of predecessors to prove to you that this can be done.

In the US, around 42% of companies are owned by women. Of these women-owned businesses, around 50% are owned by women of color. And, according to the annual Biz2Credit Women-Owned Business Study, women-owned businesses had a 27% average earnings increase in 2022 while men-owned businesses had a 22% increase.

All this to say, anyone is capable of starting their own business no matter their race or gender. If this is something that appeals to you, seize the chance!

Learn more about starting a business as a woman of color, check out our website at barbiepatel.com