Welcome back to the Business Discussion Board! Or maybe just, welcome! If it's your first time visiting us, it's great to have you here. This area of the Community is where we chat about just about any and all business topics. Next up is an article I found from clintoncourrier.com that discusses the reasons behind why more and more people are starting their own businesses. Let's take a look...
Creativity
The pandemic has left the majority of us with the feeling of being in a rut. As a means to think outside of the box and to still be able to work we've seen many becoming more and more creative. This creativity has lead to many new home based businesses.
Direct-to-Customer
One study recently showed that newly developed businesses, nearly 80% of them in fact, are selling directly to customers. This direct-to-customer, or B2C (business-to-consumer), is the business model of choice. With this method you cut out the middle-man, therefore there isn't a chain of money transfer and all of those nickels and dimes stay in your pocket!
You Don’t Need A Lot of Cash To Start
There is still truth to the old phrase, "It takes money to earn money." But the good news is, you don't need a lot of it. It make take some fund from your personal savings account but according to the article, "Over half of new small business owners (52 percent) started their businesses with less than $10,000 in funding, and nearly half of them had less than $5,000 on hand on day one."
Digital
Many new businesses these days are digital; at least in the beginning stages. This means a majority of the work can be completed on a computer or maybe even a cell phone. The reason this is a driving point to start your own business is because a computer or phone doesn't take up a lot of space and the work can be done in your home, rather than renting or purchasing a brick and mortar space.
Check out the full article linked above for even more reasons entrepreneurs have started their own businesses. What were some reasons for starting yours? We'd love to hear your first hand experiences!
