Its Own Reward
We are now over four years into one of the biggest economic crises since The Great Depression and some are even saying that our current situation is potentially worse. Certainly unemployment in the western world is still very high with little sign that that is going to ease any time soon. Some of the biggest names in banking, retail, commerce and industry have collapsed, changing our business landscape forever. Many people have found themselves unable to get work in sectors where they have many years of experience due to fewer job openings, fewer expansions and fewer trading opportunities. Instead of despairing at the jobs market and languishing in unemployment, many of these people are taking that experience and creating their own jobs; they are exploring the opportunities of becoming self-employed.
Where is the Land of Opportunity
Right now, it is everywhere! It is easy to be concerned about the lack of job openings but if you are an experienced professional, as daunting as it might seem at first, you may be better placed to start your own business. Research is the key; are there opportunities in your area of training? Could you build a client base quickly from your previous contacts? Could you expand your operation in time? Is there even a market anymore? Chances are, unless you were selling an obsolete product, there will still be a market for you to explore.
Don’t underestimate the personal pride you will gain from working from home and being your own boss. Neither should you underestimate the hard work your new business venture is going to require. Ultimately though, the hard work will be worth it if it pays off and you may find yourself expanding in no time and creating jobs for people who were in your situation just a year or two previously.
When the Money Runs Out
There are difficulties to being self-employed and the major problem for the sole-trader or other small business is what happens when you have fulfilled your end of the contract but the customer does not or cannot. It is a common story that two businesses enter into a contract, the client produces the stock or provides the service as per the terms but when it comes to payment, the other business ceases trading leaving the client with a lot of stock (or worse, no stock at all) and no money to show for their work. They can apply for compensation but this process can take time as other debtors may get priority in restructuring the debt or first choice on the assets. You are short of money, your staff need paying, you have bills to pay and although you have made good businesses choices, you are struggling financially.
You know your business is good for the money. You have finished some big contracts and the customer ensures you the contract will be paid – after all they made a profit last year. A payday loan could be an option for you in this situation; specifically targeted for this sort of situation, you will pay them back within a couple of weeks and decisions are made quickly and easily. Sometimes, it can be difficult to get a loan when self-employed but businesses offering this service are not concerned with your credit history, only your ability to pay.
Jasmin Blunt is a writer who is exploring options of how to set up her own business. To finance this change she has been researching how to apply for a payday loan to get her started.
I'm Louida from Atlanta, Georgia and I'm a mother of two daughters, blogger, and full time working mom at a Business Consulting Firm.
I love helping others learn how to start working from home on the internet free to supplement their current income.
I also blog at Productreviewmom.com
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