- Few Barriers to Entry
- A Strong Economy
- Essential Access to Capital
- Instant Access to Information
- Universal Access to Technology
- Open Access to Individuals
- There is No Perfect Time to Start a Business
Now, more than ever before, starting a business is within your reach. The resounding song of 2015 is access. Whether its access to capital, information, technology, or people, today’s world affords small business owners an unprecedented level of readily available resources. Additionally, small businesses -who account for more than 90% of payrolls and create 80% of new jobs in America- are great for our economy and the government knows it. There are a great number of incentives, tax credits and programs that have been implemented to assist in and motivate small business ownership. This truly is an outstanding year to start a business.
With the S&P starting the year off at 2,025 and unemployment below 7 for the first time since 2008/2009, this is a great economy to start a business in. Specifically, what does a strong economy mean for you as an entrepreneur? It means your customers have more disposable income to spend on your products. It means that consumer confidence is high, so whether you provide essential or non-essential goods or services, the public is more willing to buy. Finally, it means that you’ll experience less difficulty in securing any additional financing you may need.
One of the most pressing concerns of those ready to start a business is where they’ll get funding for their venture. 2015 provides some increasingly interesting answers to that question. Although banks have become more risk-averse since 2008, business lending is on the rise . More importantly, new paths to securing funding are being created every day. This is an age of, crowd-sourcing start-up funds and accessing peer to peer lending marketplaces. Since these processes and technologies are so new, they aren’t constrained by heavy regulation yet. If you aren’t comfortable with the concept of ‘new-age’ funding, today’s world also provides new channels to reach the traditional sources of capital funding. Websites dedicated to finding, researching and pitching Angel Investors and Venture Capitalists are plenty. Even banks and credit-unions are creating, user friendly websites and applications that offer one-stop shopping and rapid loan decisions. Not having access to capital is no longer a viable excuse!.
The hallmark of the 21st century is how easy it is to access an abundance of information. An almost infinite amount of knowledge is just a Google search away. If you have a question, you can just ask Siri or Cortana. However, quantity isn’t always quality. Yet, the internet doesn’t just provide an encyclopedic functionality; it enables you to connect to the individuals you need. Whether it’s a mentor , consultant or professional group you’re searching for, professional assistance is just a click away.
Never before has building an infrastructure been so easy or inexpensive. With innovative technologies being created daily and an abundance of competition driving prices down there are solutions out there for just about any business need you can imagine. Expensive software is being replaced with subscription services in the cloud that instantly receive updates. This access to technology can help you quickly start a business, run it and compete on a level that was previously impossible for small business owners.
Whether you think you need certain connections or you’re looking to staff your offices , we’ve come a long way from the yellow pages. Services like LinkedIn allow you to take an active approach to pursuing the most qualified hires. Making a connection with influencers can be a simple as sending an e-mail . There are even services dedicated to finding such influencers.
Excuses abound; you will always be able to come up with an excuse why you should wait until tomorrow. Even though 2015 looks like a great year to start a business; the fact is that there is no ‘perfect time’ and if you wait for one, you will most likely never even start. If not this year, then when? You can either act today or play it safe until one day you’re looking back full of regret. Even failure is better then never trying.