Running your own business has a great many perks. Company formations can be great fun. I started my own business over eight years ago, and have had a very interesting life as a result. I would concede however that new company formations aren’t without the downsides. You can expect new forms of stress and responsibility to follow you everywhere. Depending on your business, you can be on constant 24/7 call, which can seriously effect your personal life. That said, with every UK company formation I have setup, there have been many a positive reason for doing so. So what is it that motivates people to start UK company formation?
Let’s face it, most if not all people start companies to make money. Granted there are equally, many businesses that are a labour of love. Even if a business is motivated out of love, we don’t turn the money down! Running a business does run the risk of losing all your money. Even if you invest all your time and money, there is the risk the business can go under. You can even end up owing money at the end! Remember though, just the opposite is possible. You have every chance of succeeding if you plan well.
A good entrepreneur will sell their business at the right time, or sit back and let it run itself. If you are twenty now, picture retiring at forty. You can have a company that works for you, not the other way round. You can live the kind of life you simply never would be able to in a 9-5 job. Again, worse case scenario, when you start a business you will get little sleep. I was once on 24/7 call for an ISP I ran. While I made mistakes with this business in that I hadn’t yet learnt to delegate properly, I did find I never had any real time to do the things I wanted. The fact that business always came first and had a negative effect on my life. This is exactly how a business should not work. When setting up a new company, it’s vitally important from the start to work out just how the business will run without you. You are the architect, but you are not the builder or the maintenance man. Your business should free up your time. I often enjoy taking an impromptu afternoon or day off, because I need to and it doesn’t harm doing so. My latest business works for me, not the other way round.
No matter where you decide to start your business – England, The US, The West Indies or company formation NI. Running a business can you give you real sense of achievement. There’s nothing like building a client base. You will also have time to enjoy the fruits of that success. All this is do-able and more! The rat race is terrifically overrated.
OK, so we have identified that there are some bad parts to running a business- but just look at all the good stuff above. If you are still not convinced, don’t jump in head first- find a hobby you love doing and start part time.
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