Reasons To Start Your Own Business In 2023

There’s never been a better time to spread your wings and fly solo as an entrepreneur than now. The economy is stronger than you may think in many places, leading to fertile ground for new enterprise, and there are also gaps in the market thanks to many businesses unfortunately closing their doors during the pandemic. If you’ve got a robust idea and you’ve been waiting to put it into practice, we think now is the best time to do so. Here are some of the reasons to start your own business in 2023.

You’ve grown tired of your job

If you’ve grown tired of your current job - or maybe even with the concept of being employed in general - then striking out as an entrepreneur makes perfect sense. You can be your own boss, dictate your own work hours, and operate your business exactly as you see fit, with nobody to tell you what to do (unless you have shareholders, of course). If you’ve been thinking about a career change but you haven’t been sure exactly what to do, and you’ve had an idea rolling around your head for a while, then why not consider starting up your own business?

You’re sitting on savings

For many people, funding a business is the most difficult challenge when it comes to starting up their own operation. It’s hard to acquire the money you need to finance a new business, but it’s not impossible; some entrepreneurs are so resourceful that they can even turn £1000 loans into opportunities! If, however, you’re sitting on a significant amount of savings and you don’t know what to do with them, then starting up a business could be a great way to use them. After all, you don’t get to take money with you when you die, so why not use it for something truly exciting?

You can do what you love

Starting your own business is an opportunity to transform your passion into a profession, to use a well-worn phrase. Many of us end up employed in positions we’re not passionate about simply because of the changeable nature of the job market. If you start your own business, this isn’t something you’ll need to worry about, as you can write up your business plan to incorporate your passions from the get-go. Make sure not to start a business unless you love what you’re getting into, otherwise it will gradually begin to feel like just another job.

You’ll keep more of the profits

There’s nothing more disheartening than pouring your soul into a task, only to watch most of the rewards for it end up in someone else’s coffers. That’s essentially how employment works; although you will, of course, earn bonuses and other incentives, your work is effectively going to pay for someone else’s position. That’s not the case with entrepreneurship, where you’ll be able to dictate how much you get to keep from your endeavours (subject to legal restrictions, of course). If you want more control over your work, then start a business.

You can assemble your own unstoppable team

Have you ever found yourself working alongside someone and wondering how they ended up at their job? Did you think you could do better in the hiring process? If so, starting your own business is your chance to put your money where your mouth is. For better or worse, the team you assemble when you’re running a business will be your own; they’ll either be handpicked by you or will be people you’ve tacitly approved of thanks to your HR choices, so you can truly build a staff you’ll be proud of. No more wondering why your coworkers aren’t pulling their weight!

You get to set your own schedule

While it’s true that not working on certain days could mean your business suffers, in the end, if you’re an entrepreneur, that’s your choice to make. If you don’t feel like working at a certain time, you don’t have to, and if you think that a product or service isn’t working, you can terminate it with as much or as little notice as you like. As the boss of your company, you get to decide what you do and when; of course, you have to balance your whims with what’s good for the company, but there’s a certain amount of leeway in this, so you can finally say no to that idea or that extra day.

Your job is safe

Unless your business folds completely - which is, unfortunately, a real possibility in today’s cutthroat market - then nobody is going to oust you from your position. As the boss, you’re pretty much untouchable, and while you should never use that fact to abuse your position, it does mean that you can make more risky decisions without worrying about reprisal from the higher-ups. It also means you can dictate the ways in which your business avoids common traps for small businesses, so you can hopefully stay in operation for longer!

You can create your own branding

Sometimes, you’ll be working at a company (or simply looking at their branding) and think, “I could do better than that”. As with your hiring processes, starting your own company is your chance to step up and prove that! You can be as creative as you like with your branding; if you’ve got a specific logo, slogan, or set of marketing aesthetics in mind, you can apply them to your business, and nobody is going to tell you that you can’t. Naturally, you should seek advice from branding experts to make sure what you’re doing is a good idea, but otherwise, the sky is the limit!