Considering Self-Employment : What to Think about before Starting a Business

By Bush, George W.

Book Id: WPLBN0000672392
Format Type: PDF eBook
File Size: 221,442 KB.
Reproduction Date: 2005

Title:	Considering Self-Employment : What to Think about before Starting a Business
Author:	Bush, George W.
Volume:
Language:	English
Subject:	Government publications, Political science., Government Printing Office (U.S.)
Collections:
Historic Publication Date:
Publisher:	Pueblo-GSA


Citation APA MLA Chicago Bush, G. W. (n.d.). Considering Self-Employment : What to Think about before Starting a Business. Retrieved from http://gutenberg.cc/

Description
Government Reference Publication

Excerpt
Excerpt: Working for oneself holds great attraction for many people. Some view self-employment as a chance to advance professionally by becoming their own boss, earning more money, or gaining status. Others seek the personal advantages it may provide, such as the ability to work at home, have more flexible working hours, or create profitable ventures from activities they enjoy. Still others want to try something different from their current job or the one they retired from. Whatever the reasons for its appeal, self-employment continues to be the career of choice for about 8 percent of the work force. In 1996, self-employed business owners accounted for nearly 10. 5 million workers, a number projected to increase to over 11. 6 million by 2006. (The box on page 16 explains the way the Bureau of Labor Statistics counts self-employed workers.) However, not all of these self-employed workers stay in business long enough to realize their dreams: According to the U. S. Small Business Administration, over half of all entrepreneurships fail within the first 5 years. Nobody can guarantee success for any business. But you can increase your chances by taking steps before starting one. This article focuses on the importance of preparing for self-employment by making informed choices, exploring business and personal suitability, and planning carefully. It does not discuss the day-to-day management and operation of a business. For those details and additional information, consult the sources at the end of the article.