This year has been filled with some pretty serious ups and downs. So if you are apprehensive about taking the leap into entrepreneurship, those feelings of anxiety make sense. While approaching the decision to open a new business should be a thoughtful process, you don’t have to let the pandemic sidetrack your goals. Especially since this year could be full of unseen potential for entrepreneurs. In fact, here are four things you can in 2020 to make your dreams of owning a business come true.
You Could Earn Your Business Degree
So maybe you’re not sure if you have the right knowledge and experience to open your own business? If this is the case, you may want to consider completing an online business degree to sharpen your business prowess and gain the skills you need to succeed as an entrepreneur. If you already have a bachelor’s, WGU’s online MBA program could be the perfect fit and will help you boost your business knowledge, enhance your management and leadership skills and provide you with the tools needed self-assessment and self-awareness in business. While you can start a new business without a degree, business degrees rank as a top credential for entrepreneurs to have for success. Earning your degree could give your startup a serious edge.
You Could Establish an Online Business
Worried about how you will practice social-distancing and still establish a new business? Well you really shouldn’t be! That’s because starting an online business can be so simple, if you have the right tools at your disposal. The Online Tools Expert blog can provide you with all of the steps and tricks you need to create a successful online business from the comfort of your living room. Whether you need a website builder for your startup or simply need to know how to set up a domain, the Online Tools Expert has you covered. Not to mention that with more people shopping online than ever before, opening an online business could be a very wise decision.
You Could Score Low Rates on a Loan
If you need funding to back your new business idea, now may also be the perfect time to apply for a small business loan. That’s because interest rates on loans are lower than any time in recent history and those rates are likely to stick around for quite some time. So even if you open your business and need additional funding in the coming months, you could end up scoring a killer deal on your loan. If your startup expenses are minimal, you could also take advantage of business credit cards that are offering low interest rates. Many of these cards also offer rewards and other perks to boost your new business. Depending on the type of business you plan on opening, you may also be eligible to apply for business grants to help out with startup costs.
You Could Buy Equipment at Lower Prices
One of the most unfortunate impacts of the COVID-19 impact is that so many small businesses have been forced to close their doors permanently. In fact, up to 41% of businesses that were listed as closed at the beginning of the pandemic have made the heartbreaking decision to shut down for good. While this may give you pause when it comes to starting a new business, you should know that certain types of businesses are actually booming right now. So if your idea for a business is on the list, you could search your town to see if closing businesses are selling off their tech and equipment. Try not to feel guilty about scoring used equipment from these businesses and keep in mind that by purchasing items from them you are indeed helping them.
Opening a new business is never without risk. So don’t let fear keep you from reaching your full potential as an entrepreneur. Times may be uncertain but this could also be the perfect time to earn a business degree, start an online business or find the resources you need to successfully establish a new startup and watch your profits soar.