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Now Is A Perfect Time To Open A New Business

Are you thinking about going into business for yourself? Or perhaps you already operate a business and are considering starting a second venture, maybe even in a new business sector. For instance, you may run a service business and are thinking about buying or opening a retail outlet.

In any event, now could be the perfect time to take action, thanks to the Small Business Administration's 2016 Summer of Encore Entrepreneurship. The SBA's Southeast Regional Administrator, Cassius F. Butts, says the SBA has partnered with the American Association of Retired People throughout the nation to assure that all seasoned entrepreneurs have the tools they need to succeed. "Entrepreneurship is about following your dreams and following your passion," Butts says.

"The SBA is here as a resource to every aspiring and existing entrepreneur," he adds. "When is it the right time to go into business for yourself? The time is right when you are ready to start your entrepreneurial chapter – no matter when that time comes during your lifetime."

"It is never too early or too late to own your own small business. Resources are available to seasoned entrepreneurs who are ready to take the next step." Go to https://www.sba.gov/starting-business/how-start-business/business-types/encore-entrepreneurs.

A growing number of workers age 50-plus are turning interests, hobbies, and skills into a small business.

"Whether you are interested in starting a small business right away or are intending to wait until after retirement, now is the time to explore the possibilities," Butts stresses. "Whether your target market is global or just your neighborhood, the SBA and its resource partners can help at every stage of turning your entrepreneurial dream into a thriving business. Entrepreneurs over the age of 50 are one of the fastest growing groups of business owners."

"If you are an individual age 50+, then entrepreneurship can offer an opportunity for you to use your knowledge, passion, life and professional experience toward creating a small business."

As an example of a middle-age person making the jump into the world of entrepreneurship, Butts cites the case of Michele Muirhead, who took the plunge in 2009. Now 50, Muirhead decided she wanted to start her own business, launching HireTheHelp.com in Jamestown, New York. HireTheHelp.com offers house cleaning, elderly care, vehicle detail services (pickup and delivery), and assistance with computers, pet sitting, landscaping, painting, handyman services, snow removal and almost anything you can imagine in Chautauqua, Cattaraugus and Warren counties, Muirhead says.

The SBA offers free help in developing plans for small businesses. It also helps potential business owners to determine what options are available to finance a small business. Plus, it helps you answer questions about the best ways to market your new or existing small business.

The SBA also offers online courses designed to help you launch your new business as well as determine if you have what it takes to start your own company.

To get started, find your regional SBA office by searching on the Internet.


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This article was written by a professional financial journalist for Kingsley Perkins and Company, LLC and is not intended as legal or investment advice.

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