Funding
Hello QuickBooks Community! I can't believe January is almost finished, and February is around the corner! Can you believe how time flies? Anywho, did you know an estimated 17 million U.S. employees want to start a business? It can be a risky choice right now, but as the saying goes, the higher the risk, the higher the reward. According to our QuickBooks Blog article, "An overwhelming 83% of people who want to start a business say COVID accelerated their plans. This is either because they spotted a new opportunity online during the pandemic or because it made them rethink their priorities."Some motivations for others included:
- To be my own boss
- To have more control over my future
- To earn more money than I could by working for someone else
What about you? You may what to start, but you need to know how. The first rule of thumb is funding. Although many people use personal savings, many also need a small business loan. You can use these resources (Small Business Administration and U.S. Chamber of Commerce websites) for more details about this.
Other essential elements are opening a business bank account and tracking your expenses. But most importantly, if you are doing online interactions, create a user-friendly website and use social media platforms to raise brand awareness about your business. For more tips, check out our New Business Insights.
Other essential elements are opening a business bank account and tracking your expenses. But most importantly, if you are doing online interactions, create a user-friendly website and use social media platforms to raise brand awareness about your business. For more tips, check out our New Business Insights.
Please read through the article and use the resources listed to gain more information and familiarize yourself. Until next time, take care my Community family.