5 Reasons to Start a Business in 2016

5 Reasons to Start a Business in 2016

by Bilal Kaiser, January 2016

As far as New Year’s resolutions go, no goal is perhaps more exciting, challenging and rewarding than deciding to start a business. With the right idea, financing and brains, starting a small business can be a life-changing experience for any budding entrepreneur. Will this be the year you finally do it? Here are 5 reasons to start a business in 2016.

1. No More Bad Bosses

Arguably the coolest part of launching a startup is getting to be your own boss. No longer will you have to get approval for vacation days or feel a bad manager isn’t recognizing your value. As the head boss, your decisions impact the direction of the company, its people and, ultimately, its success. If you think you have what it takes to be a great leader, starting a business will let you be just that (and put you to the test!).

2. All Your Friends are Doing It

It’s no secret that startups are constantly in the headlines for coming up with innovative ideas, raising multi-million dollars in funding or getting acquired by mega corporations. And if you live in a medium-to-big city, chances are you know of someone who runs his or her own startup company.
Why not try it for yourself? Let 2016 be the year you also join the discussion on different ways of structuring a business or finding ways to perfect your presentation for venture capital investors.

3. Plethora of Available Resources

It wasn’t too long ago that entrepreneurs had to have a deep network of real-life contacts or expert-level expertise in all aspects of business management as a “must” on the road to success. While those elements certainly can be helpful, every aspect of launching or running a business nowadays can be supported via a wealth of free and low-cost online resources.
Need to design a website for your startup? “Websites in a box” are aplenty, as are tutorials, videos and guides. Looking for help with graphic design, writing or web development? Online resources like Elance can connect you with someone who can do the job within your budget. Even if you’re just looking for advice or introductions, sites like LinkedIn and Quora can provide information and guidance very quickly.

4. Innovative Funding Options

OK, fine, I know what you’re going to say: there’s no way to launch a business without tons of capital. And that might be partly true. But if you have a great idea, can put together a solid business plan and are able to get others excited about it, services like Kickstarter and Indiegogo can reach would-be consumers around the world to help crowdfund your startup.
Additionally, the economy has recovered quite well since the recession and small business loans are a bit easier to come by. If crowdfunding won’t cover all your launch costs or isn’t an option, perhaps exploring a loan is the way to go.

5. The Side Hustle

Let’s say you are excited about the prospect of launching your own business in 2016, but don’t want to give up the comfort of a steady paycheck just yet. Consider a side gig to try out your skills at entrepreneurship.
Whether it’s running an online business out of your apartment, being an Uber or Lyft driver on the weekends or renting out space in your home via Airbnb, the sharing economy means you can find ways to run your own business without leaving your 9-to-5.

Starting a business is always an exciting endeavor, and perhaps this year will be the year for you. And if you’re still on the fence about your next step, keep doing the research until you’re ready to rock-and-roll.

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