Thousands of Australians regularly spend time weighing up the pros and cons of looking for or staying in a job versus starting their own business. If you’re reading this, chances are you are one of them.
For people concerned with job security, a permanent employment contract used to be the highest goal. But times have changed. Small companies go bust. Large corporations have to downsize. Staff are replaced or made redundant without warning. Many employees realise they are just a number.
Where employees used to stay with the same company for decades, or indeed their entire life, Australians now change jobs an average of 12 times in their lifetime. Most employees move onto another job within 5 years, either because they choose to or they’re forced to. Sometimes that leaves gaps of months, if not years, between jobs. So much for job security.
Fact is: no job is for life. Even if you wanted it to be, it’s usually not under your control.
So it’s no surprise that 300,000 small businesses are started every year, according to the Australian Bureau of Statistics.
More and more people decide to take the jump when they look at the list of pros and cons of their “job vs own business” dilemma.
The freedom and flexibility of running your own business is often the biggest drawcard. No bosses to answer to, following your dreams, putting in as many hours as you like at times that suit you – what’s not to like?
Unfortunately, more than 50% of all new businesses in Australia fail within four years. Funding problems are one of the main reasons small businesses go bust.
Starting a business can be costly. And every business has its ups and downs. Small businesses generally don’t have the capital to self-fund their start-up costs or ride out negative business cycles.
The good news is that getting a business loan has never been as easy as it is now. There are now many non-bank business loan lenders, which means access to unsecured business loans is much less restrictive. And with the ebroker platform, comparing all the major non-banking unsecured business loan lenders is a breeze.
Being able to control your cash flow is crucial if you want your small business to succeed. If you have a good business plan, can deal with the sometimes crazy hours, and have your finances in order, running your own business can bring you the best job security. Not to mention job satisfaction, a great sense of pride and achievement, and the knowledge that YOU are in control of your own future.