Given the current economic climate, some would think it is crazy to start a new business. And those people are correct: crazy like a fox. The number of new businesses being formed has continued to increase, and there are still lots of entrepreneurs taking their ideas and making them a reality right now.
Even though many are throwing around the dreaded “recession” word, and there is a lot of financial uncertainty right now, there are plenty of new businesses being formed. For those who have an idea and are motivated to start a business, they should know they are not alone. Many are choosing now to start companies and form businesses.
Most companies in the United States are considered small businesses. This should be comforting to those who are thinking about starting their business since these new captains of industry will fall into this category as well. The small business owner and entrepreneur are in the majority when it comes to business in the United States. They are the backbone of the economy and are the ones who push innovation forward. Google, Microsoft, Levi’s, McDonald’s and other companies that have become a part of our culture, and a large part of our economy, started out as small businesses.
The reasons why businesses continue to be started during the hard economic times, and why now may be the time to start your business, are varied. For some, it is because a reshuffling of the economy has left them looking for something new. For others, they are tired of what they have been doing and are ready for a change. There are still others who are just ready to be their own boss and not slave away for someone else. These are just a few of the reasons why many are breaking out and starting a company.
A limiting factor for many wishing to start a business may be the daunting task of trying to finance their idea. Don’t make the mistake of letting this keep you from starting a business. There are still many angel investors and venture capital firms that are investing in new start-ups. The economy has impacted the amount of money that investors are willing to commit to start-ups, but they still believe in new companies and what they are trying to do. The dot-com boom and bust taught many investors valuable lessons that make them smarter and savvier in how they invest. It also taught them that investing in the ideas of others can be profitable and that this investment is the way to grow the economy. This translates into the ability for new businesses to get the capital they need to get their operation off the ground. A jolt of capital can also help take an established business to the next level as they may be making the push toward eventually going public.
The lesson to be learned is that even though many are shouting about the difficulties posed by the economy, there are still others who are quietly starting new companies and seeing success as they implement their ideas. MyCorporation offers an affordable way to start a corporation or LLC so that you have a formalized organization to launch your business. With other services like trademarks, DBAs, business licenses, and the compliance protection package called MyIncGuard, new businesses can be set-up for success. Follow your entrepreneurial spirit and call us today.
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