6 great things about running a small business
No matter where you are on your journey, from beginner to small biz pro, it’s great to be reminded of all the best things about running your own small business. After all, too often we hear how hard it is to run a small business, so much so that it can be easy to lose sight of the reason why you got started in the first place. We take a look at 6 great things about running a small business to give you a shot of confidence to kick-off, or kick-on.
1. You keep the country running: Australian small businesses mean business, big business
Statistics around small business failure in Australia are bandied around ad nauseum. You get it, we get it, everyone gets it - running a successful small business in Australia is tough. And yes, many small businesses fail; according to the Reserve Bank of Australia, around 50% of micro businesses (businesses with under 4 employees) fail within the first 12 months. But what about the small business success stories? According to the Australian Bureau of Statistics, small businesses account for around 33 per cent of Australia’s gross domestic product (GDP), employing around 40 per cent of Australia’s workforce. Small business? Sounds more like big business to us.
2. You get to create something that’s yours
Sick of slaving away in the 9-5 grind, only to see your hard work help someone else profit? Creating and running your own business means getting your own business idea off the ground. From creation, to inception, to making your first sale, it’s all you
3. You’ll feel like you’re making a real difference
When you’re working for someone else it can often feel like you’re not making a real difference, particularly if you’re doing a job you don’t like very much. When you own a small business, you get to implement the ideas you want. You get to solve the problems that you see in the world – this is one of the greatest benefits of running your own business.
4. You have the final say
Have you ever put your blood, sweat and tears into a project, only for management to say “sorry, we’re going in a different direction?” Not being the key decision maker can be frustrating. Being a small business owner comes with some tough decisions, but they’re yours to make. You get to influence the direction your business takes; all the decisions are in your hands, right down to your choice of small business insurance.
5. You’ll learn new skills
You will learn a new skill almost every day, particularly when you’re first starting out. Project manager? That’s you. Accountant? Yep, you. Hirer (and firer)? You guessed it, you. Being a small business owner means wearing many different hats. Take a look at some of the hats you’ll need to wear and find out what help is out there.
6. You’ll be invested – emotionally and financially
Ever been at work and thought, why do I bother? You’ve just spent the last 3 hours working on a project that you don’t really care about, because you’re just not invested in it. When you’re running a small business, you’re often much more invested in your work, if not emotionally, then certainly financially.
AAMI knows Australian businesses because we’re the trusted insurer to over 60,000 of them, so you can trust that we have options to suit many types of small businesses. Find out more information on the right types of small business insurance for your needs by giving us a call now on 13 22 44 (8.30am – 6pm AEST/AEDT, Mon-Fri). You can also explore AAMI’s Small Business Insurance options online or get a quick small business insurance quote now and spend more time doing what you do best.
Disclaimer: Insurance issued by AAI Limited ABN 48 005 297 807 trading as AAMI Business Insurance. Consider the Product Disclosure Statement before making a decision about this insurance. This advice has been prepared without taking into account your particular objectives, financial situations or needs, so you should consider whether it is appropriate for you before acting on it.