Have you a great business idea that you want to make a full time career out of? Perhaps you have thought of a great idea that could make the working for someone else a thing of the past? Do you dream of affording the luxuries of no debt or extended overdraft?
In a BBC interview Dragon Theo Paphitis is advising entrepreneurs to wait until after the general election in May this year before starting a business. With entrepreneurs being in something he described as “No Man’s Land” due to the fact politicians, whether they are Tory or Labour will not tell us what they are going to do about the economy.
He said “By investing in to a new venture now with the possible increase of VAT to 20%, other taxes affecting disposable income, quantum easing being reduced; it might just have an effect on your bottom line or your total survival”. He went on to say “If you have a great business idea no one is saying don’t do it, all entrepreneurs take risks, but they make them calculated risk, when you can’t put the calculator in a risk then that’s a gamble, take your time.
When I first started this website I was what some would call a 5-9er, I would get up early have my breakfast and get to my full time job. After returning home I would eat my dinner and then retire to my home based office instead of sitting in front of the TV and relaxing. Some people want more income to afford a few luxuries once in a while some just want to be their own boss to have a quality of life which allow more time for family and friends.
Having left the day job in such an uncertain time I weighed up important factors like Theo Paphitis theory on taking my time, it really does depend on personal circumstances when this is right. I know I made the right decisions for my family, sometimes you have nothing to lose. Whatever the election might hold for any new businesses I know the smaller business has a lot less to lose than the larger established brands who need to invest in to remaining sustainable, again “Size doesn’t matter”. With the last couple of years of so much uncertainty I feel new businesses will help change the future outlook with a more positive attitude.
