12 Reasons to Start a Business Today

Perhaps you're looking for a new challenge, or to tick a lifelong dream off of your bucket list. Whatever the reason, it’s never too late to start your own business. In fact, you may be left wishing you’d done it sooner!

So, what are the main reasons for starting a business? From being your own boss to financial independence, becoming an entrepreneur can be truly life-changing. But if you need a bit more convincing, we’ve put together this list of reasons for starting a business that are sure to inspire you. 

1. You understand your strengths

Starting a business that reflects your own strengths and interests ensures you’re passionate about your product or service, and have the motivation to succeed. If you’re struggling for a business idea, listing your strengths or passions is a good place to start. 

Passion is the driving force behind successful entrepreneurs, there to remind you why your business exists, should times get tough. Perhaps your friends would describe you as a creative person, and you love nothing more than getting your hands dirty. Starting an arts and crafts business may be right up your street! Whether you’re an impressive baker, wanting to start a food business, yoga teacher or gifted wordsmith, your talent could deliver a product or service that others will love. Starting a business gives you a chance to share your expertise and turn your talents into your livelihood.

2. You know your niche inside out

Having expert knowledge of your product or service could stand your business in good stead to compete effectively in your industry. After all, a clear market niche or unique selling point (USP) helps to target customers who are genuinely interested in your product or service, and are more likely to buy from you rather than elsewhere. Take starting a restaurant as an example. Instead of opening an Italian restaurant that serves every Italian dish you can think of, you could focus on offering local dishes from a specific region of Italy. Knowing your niche inside out can help to establish a level of trust between you and your customer, as you’ll be seen as an expert in your industry. 

3. You have something new to offer

While many people may be able to do what you do, they won’t do it how you do! Your approach or idea may be entirely unique, giving you the competitive edge to succeed. Perhaps you have a product idea that has never been done before, that you’re certain will take off. If you’re sure you have a new, exciting concept to offer and the enthusiasm to get you there, what are you waiting for?

Starting a business and have no ideas? We can help with that.

4. Affordable, accessible and simple-to-use technology

There’s no denying that technology can be key to supporting your business venture, with 90% of all SMBs making use of digital communications tools. But you don’t need to fork out significant money on expensive tech for your business to thrive. Remember, the cost of technology to get your business up and running is usually a one-off expense, and doesn’t need to cost the Earth. Once you’ve got the technology and equipment to support your journey, you’ll feel ready to roll. 

See more on the costs of starting a business.

5. Remote working is now the norm

The working world has certainly changed since the pandemic, with 44% of Brits working from home at least some of the time. So if you’re hesitant to start a business due to office rental costs, you’ll be relieved to hear that times have definitely changed and you can start a business from home. Remote working is a top reason to start a business - not only will you be able to maintain a healthy work-life balance, but you can also save on office rental costs. 

Looking for a business address but want to avoid renting a physical office space? Our virtual office service can offer you a professional office address for you to establish a professional image, all while having the freedom to work from wherever you like. 

6. Financial freedom

One of the more obvious reasons for starting a business is making money - you can’t underestimate the financial freedom that starting your own business can bring. When working for an employer, there’s usually a cap on your salary unless you’re on commission or receive a bonus. Whereas, when you’re your own boss, the financial possibilities really are endless! As a business owner, you get to decide how much you charge and the hours you work. And if you’re in need of some extra cash, you could up your prices or put in some extra hours. 

7. Be your own boss

Say goodbye to the 9-5, company procedures and Monday morning meetings. When you start your own business, you’re in the driver’s seat. Perhaps you’ll work a four-day week, offer your staff unlimited annual leave or put a stop to Friday afternoon calls! What you say goes. 

8. Better job satisfaction

Considering the average retirement age in the UK is 64.5, dreading Monday morning should really be avoided, right? When you’re a business owner, the Sunday scaries really are a thing of the past. Your business will be something you truly care about, enjoy and feel motivated to get up for every morning. 

9. Use innovation and creativity

Consider yourself a creative person? There’s no better way to use your forward-thinking than starting your own business. Creativity challenges the norm and embraces innovative ideas, which can help you create products or services that are sure to make their mark in your industry. If your product or service is out of the box, you’re likely to outshine competitors and capture the attention of potential customers. 

10. Grow your network and collaborate

Starting a business opens the door to collaboration, meeting like-minded professionals and learning from others. You could attend conferences and networking events for entrepreneurs to grow your industry knowledge. One thing’s for sure, there will be plenty of others in your position who are eager to meet and support you!

11. It’s exciting

If you’re looking for reasons for starting a business, the excitement of new beginnings should be enough to convince you. While the unknown may sound daunting, it’s exciting too - the possibilities are truly endless and there are no limits to what you can achieve. You’re in charge of your own destiny and what your business can become, and there’s no better feeling than that.

12. Support is readily available

We’re not going to downplay it - starting a business is a big deal, and it’s only natural to have worries about your dreams not going to plan. But you’re not alone in this new chapter. There is a wealth of information available online on how to start a business that can put you at ease. The government also has a Business Support Helpline for free advice about starting your business and financial support you may consider.

In need of a helping hand? Our experts here at SUAZ are readily available whenever you need them to guide you through the company formation process. 

What’s stopping you from starting a business today?

There are two things that are important to start a business - a great business idea and the motivation to get you where you want to be. We believe you have what it takes to make your dream come to life. The reasons to start a business listed above should show you that there’s no feeling quite like being your own boss!

Our expert company formation service is there to guide you through the process of forming your company, with support there whenever you need it. There’s no reason to wait - form your company today with SUAZ.