Nearly 13 percent of Americans were starting or running their own business in 2012. That is the highest since 1999, according to the Global Entrepreneurship Monitor, a report published by Babson College and Baruch College.
When starting a business in Florida, there are many things that an entrepreneur must worry about, including obtaining capital, fearing failure, and planning for growth.
Capital, or startup costs, is required to finance a business. Entrepreneurs may obtain this money through personal savings, selling assets, venture capital, or other means. According to the report, a median of $15,000 is required to start a business, but that depends on the type of business you are starting.
According to the report, one in three entrepreneurs feels constrained by the possibility that they won’t succeed. Taking advantage of Boyer Law Firm’s business planning sessions can ease this pressure and give you peace of mind because you will be getting reliable advice as to how to run your business so that it will succeed.
These planning sessions, along with a business plan, can also help you plan how to grow your business in the future. Thirty-seven percent of entrepreneurs plan to employ more than five people in the next five years, and 30 percent plan to outsource some business functions, which creates jobs at other businesses.
The report also found that three out of four of these entrepreneurs started their business because they saw a need in the marketplace, not because they were out of a job.
If you are planning on starting a business in Florida, contact Boyer Law Firm for guidance and peace of mind today.
Source: South Florida Business Journal