With the New Year comes a new you! But not everyone wants to lose 10 pounds, stop smoking, or meet new people. The best resolution is one you really want to keep, like following your dream to be an entrepreneur. If you’ve always wanted to start your own small business, the upcoming year may be the perfect time. If you’re working a so-so job, while your dreams sit to the side, consider making 2016 the year you go for it, based on:
Approvals for small businesses loans are getting higher, which is great news for someone looking to start a new company in 2016. In fact, they’re at their highest in five years! It looks like the 2008 recession is finally coming to an end and banks are willing to loan again. So go out there and get the funds you need!
If you’re not looking for a traditional funding source, the internet has made several other avenues available to entrepreneurs that previously weren’t heard of. Kickstarter, GoFundMe, Indiegogo, or any of the other crowdfunding sites is an even more appealing option now that the SEC has ruled allowing for crowdfunded companies to repay contributions with equity, as not just goods and services like before. With a small business loan and some crowdfunding boosted by your social media followers, you’re well on your way to getting your dream up and running.
Recent studies have found that a much higher number of self-employed people get positive self-worth from their jobs than those who go to work everyday for someone else. This even applies to entrepreneurs with startups, and once their entrepreneurial companies become established, they're even happier. If you're still working 9-to-5 for someone else, it's may be time you find out whether you could be as happy as other entrepreneurs.