6 Great Reasons to Take the Leap and Start Your Own Business
July 13th, 2016
Many people dream of starting their own business, but feel nervous about actually taking the leap and working for themselves. If you do decide to go ahead and become an entrepreneur, the whole process will take a lot of planning and hard work – yet every year many thousands of people do just that, and a lot of them find it extremely rewarding to become their own boss.
As a leading provider offering rental of serviced offices for small companies in many locations, including Swindon and Exeter, Basepoint has extensive experience of working with small companies. Here we look at 6 good reasons to consider setting up your own business.
- A Chance to Follow Your Passion. For many people, setting up a small business is a labour of love. You may be building on a hobby or interest, doing something which you have always longed to do. If you are bored with the same old 9 to 5, running your own business gives a chance to turn something you feel passionate and excited about into a way of making a living.
- Making the Rules. It can be frustrating working for others in a large organisation. You may have to spend time at formal meetings which you feel are unproductive, or be expected to go about things in a way which you regard as inefficient or outdated. But being your own boss means you are the one making the rules and can look for new and innovative ways of doing things. For instance, you can decide when to invest in new methods and technology and you can also make sure that meetings you arrange are better-focused.
- Turning a New Idea into Reality. One of the best reasons of all to start out in business is that you have a good idea. Perhaps you have come up with something which you believe will fill a gap in the market. Or you may have a new product to market which will be better than what competitors are offering. The idea could be drawn from your existing expertise and knowledge built over the years, or from the fact that, as a customer, you haven’t been able to find a particular product or service available.
- Finding a More Varied Role. Do you feel as if you are a tiny cog in a big wheel at a large organisation? Is every day the same as the one before? When you are a business owner, your working life will be far more varied because you will have to be on top of all areas of your new venture. These include networking and building relationships with prospective suppliers and customers. It can be fulfilling to learn a range of different skills, even if you eventually outsource some areas to others. There are various organisations which can provide you with advice and mentorship so that you can build your business expertise, including Chambers of Commerce and Basepoint’s own Mibase service.
- Potential to Grow Your Income. If you are working for someone else, it’s up to them whether to give you a pay rise. Many entrepreneurs make little money at first and may initially have to run their business in their spare time without giving up their day job. However, as your business becomes established, there is potential to grow your income, and many start-ups do go on to be successful and profitable companies. You may well need funding at the start, so when setting up a business it is important to investigate sources of start-up capital. The Government’s Better Business Finance website has details of many different finance providers across the country.
- Choose a Location That Suits You. A big drawback for many people about working for others is the long daily commute to work. You may also have to work in office space which has various drawbacks, such as a lack of parking nearby or daily traffic jams on the way into the town or city centre. However, when you set up your own business, you can choose a location which is easy for you and your staff to get to. Many small companies regard a rental of space in serviced offices as the ideal solution, because they are together with other SMEs and can benefit from a whole range of services.
Basepoint helps small businesses to grow, providing the support you need and offering a whole range of services, such as networking events. If you need to move into a larger unit within your chosen business centre as your company grows, it is easy to arrange this thanks to our flexible terms.
Rental Serviced Offices – Click to find out more about Basepoint’s office space at our business centres in locations including Eastcote and Shoreham.