Monday, 23 July 2018

Information and commentary for the small business banking industry

The benefits of being a small business owner

07 Jul

Someone has a great idea for a small business. They toss the idea around with family and friends, and the most-asked question is “will it scale?” And if everyone agrees it’s a great idea but isn’t likely to make millions a year after its launch, they ditch it.

This is a shame, because there are manifold benefits to becoming a small business owner and they’re not always about money. Of course they¬†want their¬†business to be profitable and to afford them¬†a decent living, but that’s not all there is to it.

Becoming a small business owner means being your own boss. Keeping it small means it stays on a personal level, and small business owners are more likely to stay connected to the people who work for them. A small business owner is looking to strike a work/life balance, and to focus on building something that, while small, is still meaningful.

And remember, small doesn’t have to mean low value. Or (crucially) ¬†that they’ll stay small forever – who knows what the future holds?¬†For a bank, todays new small business account could become tomorrow’s major success story.

Read the full article at:

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