Is it safe to start a small business?

June 30, 2006

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Is it safe to start a small business? This is a question many people ponder, when considering starting their first business.

This week, I spoke to two happily employed people, who asked me why I risked working for myself. After all, it is much easier to be employed - they told me, and totally risk free, especially if you’re employed by a large company.

Is it risk free to be employed. Personally, one of the main reasons that I am self employed is to avoid taking huge risks.

If you’re employed by someone else, you are relying on them, not to screw up, in order to keep your job. If you’re employed by a large company, you’re not risk free either. True - larger companies are less likely to go bankrupt than smaller companies, but large companies make people redundant all the time. Just read the daily newspapers for evidence. And what’s more, you won’t get the tiniest bit of warning.

If you own your own business, you’re reliant on nobody but yourself to keep the cash flowing in. And if you do run into trouble, chances are, you’ll realise it in plenty of time to put things right.

Who do you trust more, yourself, or a load of corporate suits, who you’ve never even met? At best, you’d probably just be a number to them. The fact is, nobody cares about you, more than you do. By starting your own business, you’re reliant only upon yourself.

If you’re considering starting a small business - check out these fantastic small business resources.

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