Why You Shouldn’t Be Afraid To Start A Small Business

Working capital business loans

When first announcing that they?re starting a small business, some people are confronted with questions of ?Why?? or ?How??. Unfortunately, entrepreneurship and small business in general have developed a reputation for riskiness in America ? which is ironic, as there are now plenty of factors in play to reduce the risks associated with starting a small business. Of course it?s always good to be cautious, but the unfortunate side effect of this kind of caution is that it makes people afraid of starting their small businesses. In fact, the idea of small businesses being risky is misinformed ? there are a lot of things about small business that you may not know.

Small Businesses Are Important Parts Of Today?s Economy

Did you know that small businesses account for 55% of American job? Or that all 28 million of them are responsible for 54% of American sales? The name ?small business? may be a bit of a misnomer. While the businesses themselves may have fewer employees than larger corporations, small businesses stimulate a major part of the economy. So becoming the owner of a successful small business is actually far more accessible than you might imagine, and highly encouraged by the U.S. government, which is why they offer many incentives to those wishing to pursue small business ownership.

Unsecured Business Loans Are Options For Small Business Owners

Upon starting their small businesses, many are interested in getting capital from investors. However, funding experts say that in the early days it?s far smarter to pursue unsecured business loans like working capital loans for small businesses. Working capital loans for small business can come from direct lenders rather than brokers, and can offer the money small business owners need quickly. This can help you do everything from fulfill orders to expanding your business. The U.S. Small Business Administration reports that a lack of capital is the second biggest reason why small businesses fail, secondly only to inexperience. Unsecured business loans can help you get that capital now.

The Government Really Is Willing To Help

Returning to the subject of government incentives to start a small business ? some of what you spend on your small business is tax-deductible. More specifically, many ? though not all ? small business expenses in the first year are tax-deductible, topping out at $5,000. You can also deduct up to $102,000 in the first year when it comes to business equipment expenses. This can include everything from computers to copies, and even fax machines, phone systems, and other fixed assets. These deductions, coupled with small business loans, make starting a small business even more affordable.

A small business can be a challenge, to be sure ? nobody will deny that. But it?s also a great benefit to not only you but the country at large. You?ll be glad you took the leap.

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