Four reasons why to start a business by the end of year
Author: Leslie M. Gieger
POST DATE: 10.25.20
The leaves in Indiana are changing, leaving many feeling inspired to take on something new. Are you ready to get your business up and running? If so, the attorneys at CCHA are onboard with helping you with your start-up before the end of 2020.
While unfortunate, we have continued to see many small businesses close their doors due to the ongoing hardships stemming from the pandemic. However, the pandemic has also created a lot of new opportunities for many start-up businesses. Believe it or not, some incredibly successful businesses were started during the midst of other difficult economic conditions – Airbnb, Disney, GM, HP, Microsoft, and Uber – just to name some. Start-ups have historically accounted for a significant amount of job creation, so we anticipate many start-up businesses will be to thank for helping the economy and employment rates get back on track.
If you are considering starting a business, here are four tips why you should start a business before the end of the year:
Take advantage of low interest rates.
Whether you intend to fund your start-up through a loan with the Small Business Administration or your traditional bank, interest rates are presently at an all-time low. Your start-up capital may be cheaper than you ever imagined!
Take advantage of pandemic-created opportunities.
Perhaps your small business will fill a niche that has been created by the COVID-19 pandemic or demand or maybe you have seen new potential with the transition to a more virtual workplace. While many of these trends are here to stay, now may be the best time to capture on the market needs you perceive.
Get the kinks out before start of year.
Starting a business seldom goes off without a hitch. By timing your start with a few months left in the year, you’ll have time to iron out the proverbial wrinkles and be ready to kick into full-gear in 2021. You’ll be gifting yourself the benefit of time and a runway to finalize and tweak any front-end logistics, so that business is fully operational and effective come start of the new year.
Take advantage of year-end savings.
Especially as a new business owner, you’ll want to keep a close eye on savings you can cash in on during Black Friday and Christmas. Operating a business requires varying levels of must-have inventory (ie: office supplies, furniture, software, etc.) after all. So take advantage of the savings that naturally occur during the final months of 2020 and plan ahead for what you’ll need to run smoothly in 2021.
Let the experienced business services attorneys at CCHA help set you up for business success as you begin on your entrepreneurial journey. It’s important to partner with someone who is not only versed in the law, but also understands the goals of your business. At the Indiana law firm of CCHA, we know what it takes to help businesses reach their goals, so contact us today.
Recent Blog Posts
#CCHACares: Carmel Youth Assistance Program
CCHA Law is pleased to highlight a nonprofit organization in Carmel that CCHA Law is proud to support. Carmel Youth…
Is It Possible to Get Child Custody Modification in Indiana?
When the needs of your family or child evolve, you may find that the existing arrangements for parenting time and…
What Is the Punishment for OWI in Indiana?
An operating while intoxicated (OWI) charge in Indiana can throw your world into a tailspin. It’s natural to wonder what…
