If you read that title and had a little deprecating laugh, I totally get it. This shit is HARD and sometimes I think about calling Forever 21 Corporate HQ and screaming "I'm sorry I walked out and stopped showing up! I didn't mean it! Take me back!." But the reality is that we all got into running our small businesses because the thought of working somewhere else with a dress code makes us want to metaphorically die. So here we are. But! Despite political turmoil and an economy that's forever up and down (lol), it's actually a great time to be your own boss. Here is why:
1. Small businesses are an integral part of the state's economic landscape. In short, we are creating jobs. In the US, there are 30.2 million small businesses (73% of which are owned by men... so that's another thing that really sucks and should just be fuel for any women out there to start their own thing). As of 2018, 99.9% of US businesses are small businesses. I'm no math wizard, but that is A LOT compared to the major corporations we feel like we're up against. Solidarity y'all. Currently, small businesses employ more than 47.5% of the private workforce in the US and account for 1.9 million new jobs. We are economic engines!
2. There are more resources than ever before. While some of us weren't taught ANYTHING about entrepreneurship in school, the amount of resources that exist now to guide you into making that leap is endless. Some of our favorites: -Business in a Box -12 Step Guide into Starting your Own Business -US Small Business Association Step-by-step guides aren't bulletproof, but are important in teaching the logistics and legalities of implementing your start-up. When I started Tower Press I had NO idea all the forms and government numbers I'd need (and all the taxes involved), so I was grateful for the Internet and things like Legal Zoom so I could protect myself! The idea of starting your own business can be so overwhelming, and I think there are a lot of assumptions about paperwork being too complicated or approval processes, but it's really quite easy!
3. Small businesses are innovators. It's easy to believe that big corporations with the endless research and development budgets are getting it done. But the latest technological advancements are being facilitated by small businesses, which produce 16 times more patents per employee than their larger counterparts. Ie: We are SMART.
4. People want to support and shop small more than ever. Even corporations have protocols in place where a certain number of their suppliers/services should come from a small business. A lot of people now go out of their way to shop small, whether it's groceries, home decor, or professional services. People know that by in doing so, their supporting economic growth in their own communities, supporting an individual directly, and also investing in something that is far better (whether it's a more personalized customer experience, a product that will last longer, etc). Over 90% of our own clients are women-owned businesses. The support comes full circle! We all just want each other to succeed. :)
While running a small biz is difficult and challenging at times, it's also incredibly rewarding and all sorts of wonderful tools are at your disposal! If you have a great idea, let's get to work!