STYLE | Business
D O Y O U H AV E T H E A M B I T I O N TO BE YOUR OWN BOSS?
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How we all work and shop has seen rapid and profound changes. For those looking to start a new business this isn’t a barrier but an opportunity. The pandemic, lockdown and a move to work from home has already enabled many ‘homepreneurs’ to launch their online store, creative studio or consultancy from their kitchen table, spare room or garden shed. In the past four months 85,000 businesses launched new online stores, making the most from the tremendous demand for online shopping and services. These are opening up new online markets and reinvigorating the economy as it starts to move to the ‘new normal’.
t’s a myth that an economic downturn or recession is the worst time to start a new business. By their very nature, start-ups are lean and agile, better placed to identify and seize opportunity in difficult times and navigate rapid changes in the economy more easily. Previous downturns have shown that start-ups are good at finding market opportunity and filling gaps left by much bigger established businesses.
Technology has become an enabler, not a barrier, allowing you to start and grow your business at speed. And, with a rise in unemployment, there is a lot of talent in the marketplace ready and waiting to work with you, to make your business a success. In addition, the funding to support you and your new business is more readily available than ever before through start-up grants, crowdfunding, low interest rate loans and, for some, redundancy payments and loans from family and friends.
In fact, some of the world’s most successful and iconic companies were founded in the months leading up to and during financial crises. Burger King, Disney, FedEx, Groupon, IBM, Microsoft and Whatsapp are all great examples. Consider the phenomenal rise of Zoom during the current pandemic, from 10 million daily meeting participants in December 2019 to two trillion by April 2020. Necessity drives innovation, and that’s especially true during economic downturns.
So, you can start a new successful business in what may seem a challenging commercial environment, whatever your current circumstances. The key factors which determine whether your start-up will succeed or fail are based more on you and your abilities, rather than wider macroeconomic trends. If you have an ambition to become your own boss, then what are you waiting for? The help and support is available now for you to start your journey.
Dale Howarth is an acclaimed business speaker, mentor and CPD Accredited Trainer; working with individuals and companies to make the business leaders and businesses successes of tomorrow. To find out more visit www.dalehowarth.com.
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styleofwight.co.uk
By Da le Howa r t h BUSI N ESS M EN TOR , SPEA K ER A N D CPD TR A I N ER
Research shows an increase in those who would like to start their own business, as high as 83% in 18-24 year olds and 64% across the UK workforce as a whole. This is despite the ongoing pandemic causing untold devastation to the business world and economists predicting a recession or even depression. For agile entrepreneurs with an appetite for innovation, now could be the perfect time to start a business of their own. If you’ve been thinking about what your life may look like in the ‘new normal’, don’t rule out becoming your own boss.
