Everyone wants more money, but hardly anyone is willing to start a business of their own to get it. The fact of the matter is, the biggest earners in the world are no longer the kings and sultans (with some exceptions) but from businessmen and businesswomen who were willing to risk it all. The funny thing about the risk of running a business is, it isn’t as risky as you might think.
The Law Is On Your Side
The United States is a capitalist country, and as such, the government has structured the laws to favor businesses. That doesn’t mean that you can do something terrible and get away with it, but what it means is that there are laws that are available to you as a business owner that aren’t for the regular person.
The main reason that these laws exist is that more often than not, keeping a businesses door open is better for everyone involved. When the business is big enough, it closing can cause a ripple effect that can destroy entire cities. Take Detroit for example. Once a bustling center of automotive manufacturing, now it lays empty and filled with crime.
It’s no wonder, then, that the US government bailed out the banks. The alternative could have meant the same thing that happened to Detroit, but for the entire country.
Taxes Are In Your Favor
For the same reason that businesses are favored with the law, tax law is also going to be your friend. Plus, if you structure the company correctly, then you’ll be safe from bankruptcy. By this we mean, your personal assets will be protected, even if the business crumbles. But the chances of that happening are slim as well.
Thanks to the way tax laws are structured, you shouldn’t have that problem, though. The US government has several agencies and resources out there to help business owners expand their businesses rather than see business drop off and doors close down. They will also show you how to do your taxes to write-off expenses the business incurs. This is great during tax season!
You Will Create Jobs
If there is one thing that people love more than anything else, it’s job opportunities. Without jobs, people wouldn’t be able to buy a home or feed their family. Not only does the government want more jobs and they do everything in their power to encourage more businesses that employ others, but people will love you for it too.
When you start a business, you’ll find that people appreciate the fact that you’ve created something that helps others have a family. Your own family will appreciate you more because you help people stay pay their bills and enjoy time together at theme parks!
Creating jobs is the number one reason that you will be getting all of the benefits of starting a business, so get to work making these jobs necessary in your business as soon as you open doors!
Even When You Fail, You Win
If you want to start a business but you’re worried that it will inevitably fail, well you’re not necessarily wrong. Here’s the thing though, usually companies are bought by others and absorbed rather than failing outright. But even if you did declare bankruptcy, think of where you’ll be at that point versus where you started.
Seriously, the amount that you will have learned from your first business will be ten or even a hundred times more valuable than anything you learned in business school. Plus, by trying, you’ll be ahead of 99% of other people in life.
Besides, some millionaires didn’t get it right until their 3rd or even 8th business went south. Get out there and start a business, and watch how you’ll grow exponentially as a person!
If you are struggling with the decision whether or not to start a business, give the Von Esch Law Group a call at (714) 456-9118 for some clarity on how we to improve your odds of becoming a success.