Here are three commonly offered excuses why women fail to start a business and the reasons why these excuses should not be holding you back.
Excuse #1: The economy is bad. Businesses are failing everywhere. Now is not the time to start a business.
Excuse Buster
As the saying goes, "there is no time like the present." You can put things off to be done in the future, but you cannot actually do them in the future. “Now” is the only time you can actually do something.It is true, during tough economic times businesses fail. But new businesses are also launched every day even in the worst of times. The business world does not stop during tough economic times; it changes.
Do not use a slumping economy as the sole basis for deciding that a business of your own could not succeed right now. A bad economy is a challenge, not a deal-breaker.
Think of starting a business now as starting a business during a time when there will be less competition; a time when you can negotiate better deals on commercial property rentals, and even on wholesale consumer goods.
It takes time to start a business, and even more time to grow one. You do not have to do everything all at once. Take small steps like working on a business plan or putting design ideas onto paper.
If you plan to be in business someday, you can, and should start today.
Starting a Sole Proprietorship is Easier (and Cheaper) Than You Think
The sole proprietorship is subject to the fewest regulations of all business structures. For tax and legal purposes, the business is the owner, and this can often be to your benefit.
- Top 6 Tax Benefits of Sole Proprietorships: Each type of business structure offers specific tax advantages and disadvantages. WIB offers you information on some of the tax and financial benefits to establishing your business as a sole proprietorship.
- Tax Benefits to Sole Proprietors for Healthcare Reimbursement Arrangements (HRAs): Learn how HRA plans can help you with medical and dental expenses – and receive the added benefit of double tax deductions for the same expenses.
- How To Start a Small Business Sole Proprietorship: Learn the basics about starting a sole proprietorship; how to register your business name, get an EIN, license your business, and certification for being women-owned small businesses.
- United States Sole Proprietorships 101: Information about how to start a small business sole proprietorship. Learn the basics, pros and cons, and legal requirements of forming small businesses as a sole proprietorships.
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