The world of business is always in a flux. The idea of commerce standing still is completely contrary to the entire concept. It isn’t impossible, but likely improbable. Even when the US housing bubble burst in 2008, rocking the very foundation of the banking industry, business kept morphing and marching forward.
Small brick and mortar business owners found themselves without the backing of their long standing banking partners. These institutions were forced to trim down their workforce and scale back private jets and luxurious Fayetteville party buses for a while. The self-employed little guy was considered slash, and left out to dry.
Since the US recession, entrepreneurs have emerged in bigger numbers than ever before in recorded history. Speaking from that perspective, I knew, along with millions of others that we could not afford to let ourselves get entangled in a situation like the 2008 debacle again. We were not going to let ourselves be completely at the mercy of an ominously dictated economy if there was a way around it.
The development of modern business technology gave us the way in and around it. Internet based technology has put small business in a position to call a lot of their own shots. Start-ups have their future in their own hands more than ever before. The development of a brand, and direction of marketing along with a national and international reach, puts the business ball in the court of the entrepreneur. In the overall scheme of things, the cost is relatively low and doesn’t necessarily have to involve bank loans. The solutions are far more attainable with the availability of internet tools.
The growth of individual enterprise has reached an all-time high and is up by more than 25% since the economic downfall. Being your own boss and calling the shots is the dream of most business people. Realizing that if the company grows, it’s because of the knowledge, hard work, ingenuity, risks and fortitude to use all the tools available come to rest on the
entrepreneur. It seems most entrepreneurs are in pursuit of better, more exciting opportunity rather than just the necessity to make a living.
All things considered, courage and optimism play a large role in developing the pursuits of an entrepreneur. Truth is, there is no tamping down the entrepreneurial spirit.
• People of all generations are taking business into their own hands. Fifteen to 20% of the existing workforce is engaged in widening the avenue of self-employment.
• Home businesses are growing at the rate of 69% opposed to businesses that are office based and corporately owned.
• Women are major players on the field of elf start-ups. For every 10 men there are 7 women following the path of an entrepreneurship. Often part-time business people and full time mothers, self-start-ups are perfect for the individual who finds themselves wanting more flexibility.
• Immigrants see the potential of driving their own ventures. The most promising place to get into business for yourself is in the US. Now with the promise of less regulations and tax cuts, the time is ripe for future growth.
• Plenty of room for growth. With just a little over 25% of US entrepreneurs getting their business internationally there is unending potential. Technology along with shared values are closing the gap.
Are you in business for yourself? Do you want to be? What do you see as some of the greatest advantages? Leave a comment with your thoughts.