As a leading business transfer agent and business broker, we see many first time buyers and truthfully it can be daunting. According to The European Commission’s SME Performance Review in 2013, there were 4.9 million businesses in the UK, over 99% of which were small and medium enterprises and employed around 14,424,000 people in the UK. The Review estimates the Gross Value Added of SMEs as €473 billion or 49.8% of the UK economy. It is clear from the figures that SMEs are as important to the UK as larger businesses. Need a push to set up shop yourself? Well we’ve put together the top 10 reasons to work for yourself. Take a look and see if you’re up for the challenge.
- Be Your Own Boss
YOU get to make the big decisions, so your business can be exactly how you want it to be. Want dress down Fridays? You can!
- No Commute
Taking an hour to make a 20 minute trip? Stuck in nose to tail traffic? Feel like you’re spending majority of your life sat in your car? We all dread the commute to and from work being stuck in what feels like an endless queue. By owning your own business you can work wherever! If you want you could even have an office in your own home that you work from! A two second commute sounds good to us.
- Work At Home
Wouldn’t it be great to laze in your PJs all day and be productive? Whether your home comfort is your bed, your pets or sitting in your PJs, by working for yourself you could quite easily set up office in your bed for the day.
- Choose Who You Work With
When you work for a business there may be people who you just don’t get along with, as employees this is something you just have to deal with. But by being the business owner you get to make the decisions on who to hire (and fire!).
- Reap The Rewards
There’s no doubt that owning your own business may be daunting. But the rewards can outweigh the risk. Feel like you’re doing all the work but not gaining the rewards you think you deserve? Then owning your own business is the answer.
- Spend Time With People You Love
The ‘typical’ movie depicted working parent seems to always miss their children’s plays or sports games. By owning your own business you can freely attend any events (with exceptions), so you’ll never miss a dance show again!
- Flexible Working Hours
The most rewarding benefit of owning your own business is the choice to have hours that fit you.
- Be Challenged
If you sit at work doing mundane tasks day in day out you’ll soon feel like you should be doing something of more importance. By owning a business you’ll regularly experience new things.
- Use Your Ideas
One of the many reasons people create their own company is the chance to use their vision. When you work for yourself you can try out all your wacky and wonderful ideas that your old bosses may be too scared to try! Remember sometimes all the best kinds of ideas are a little crazy. Back in 2007, Microsoft CEO Steve Ballmer, made the big mistake of stating “there’s no chance that the iPhone is going to get any significant market share”. With Apple holding 42% of the market share in the first quarter of 2014, Steve was very wrong. See! It could pay to be different.
- Fulfil Your Passion
Remember when you were little and you had dreams of becoming a vet, a chef or a firefighter? But now you’re stuck in a dead end job doing the same thing day in day out. It’s not too late to chase your dreams! By owning a business you can do what makes you happy and fulfil your passion.