Startup Advice

Why you should start a business in 2016

Charlotte Harwood

Thinking of starting a business? There's no time like the present - and here's why.

If you’ve been thinking of starting your own business but haven’t done anything about it, 2016 is the year to finally take the leap.

There’s plenty of truth in the saying ‘no time like the present’, and if you’ve been putting it off through fear, uncertainty or indecision, now’s the time to do something about it. But why now?

Small businesses are on the rise

It’s long been considered that small businesses have a significant advantage over big businesses in their ability to offer a more personal customer experience, and this idea is gaining traction year on year. Think about it: a small business with a handful of staff is able to tailor its approach to each and every customer, and small business owners often take a hands-on role themselves. This gives customers a sense that the owner actually cares about what they want – something you just don’t come across in chain stores and huge companies up and down the country.

On top of that, more and more consumers are favouring small businesses in a bid to support the local economy. And with initiatives like Small Business Saturday actively raising awareness of Britain’s SMEs and start-ups, the future certainly looks bright.

It’ll make you happier

It’ll probably come as no surprise that people who work for themselves are, in general, happier than those who work for someone. In fact, there’s plenty of research out there to suggest that a significantly higher number of people gain a greater sense of self-worth from their jobs when they don’t have to report to anyone else.

Being your own boss certainly has its plus points. From choosing your hours to handpicking your staff, as a small business owner it’s you who makes all the decisions. It’s a lot of responsibility, but it gives you an enormous amount of freedom.

Work on something important to you

If your business idea revolves around something that is meaningful to you, it’s time to get started. Running your own small business gives you the freedom (there’s that word again) to work on the things that are important to you. No wonder entrepreneurs enjoy a happier work life.

It might sound cliché, but when you enjoy what you do it doesn’t feel like work, and if you build a business out of something that holds meaning for you then you’ll never work a day again.

There are stacks of resources for start-ups

Financing is one of the most common barriers to starting a business, but it isn’t a hurdle that can’t be jumped. There are plenty of resources available to budding entrepreneurs and start-ups, whether that be a loan from your bank, equity funding, or gaining investment from your local angel network.

There’s also funding available from the government, and you may be eligible to access a government-backed support scheme to help you out with initial funding.

It’s easy to fall into the habit of working for someone, and when it’s something you’ve always done it can seem all the more daunting to set up on your own. But with so many positive reasons to start your own business, make 2016 the year you go for it. And for more advice on getting started, check out the Starting your business section of the Biz Hub.