If you’ve been dreaming about being your own boss, maybe 2016 will be the year that you finally head off on your own and start your very own business. Think about it: you’ll be able to make your own decisions, follow your passion, and do something that you really enjoy every day. What could be more fulfilling than that?
But before you head off and get that business loan for your new startup company, continue reading to learn more about why you should start a new business in 2016. In this way, you’ll know exactly how to take advantage of the current economy and opportunities available to you.
Crowdfunding is Making It Easier to Get Startup Capital
If you’re at all reluctant, or perhaps even unable to, get a small business loan from a bank or lending company, you can instead use the power of the Internet and social media to make the money that you need.
Crowdfunding has never been bigger, and many businesspeople actually get their start by asking for donations from people online and giving those who donate a reward of some kind for their generosity.
Check out sites like Indiegogo and Kickstarter to set up your rewards and launch your campaign. Then promote it to all of your friends and family and their networks until word spreads about your venture and your new products and/or services. The key will be to make your campaign stand out, but you can do some research to learn how to do that surprisingly easily.
Getting Capital in the Traditional Way is Also Easier
Small business loan approval rates have been increasing over the last few years as the economy has grown stronger, so even if you want to get a traditional loan, now is the best time to give it a try. Check out local lenders, as well as online lending options, which are expected to increase in the coming year.
Small Businesses are Becoming More and More Popular
Even though corporate giants are still around and don’t seem to be going anywhere anytime soon, small businesses are becoming increasingly popular amongst consumers who want to give back to their local communities and local economy.
Many small businesses are finding it easier to attract and retain clients, provided that they’re able to give customers high quality products and services that really stand out. Large companies can’t compare with the customer service and friendliness that a small business can offer, so take advantage of this to build your new company.
It’s More Affordable to Promote Yourself Online
Many businesses don’t even bother purchasing expensive advertising on TV, on the radio, and in publications anymore, especially when they’re first starting out. With so many free advertising opportunities online through social media, and with things like affiliate marketing and cheap reseller hosting, there are ample opportunities to build a website, promote yourself online and make money online.
As you can see, 2016 offers plenty of opportunities to start and expand your business so you can find success while being your own boss.