It’s everybody’s dream: leave the rat race behind and start a business of their own. But few really make the dream a reality and for those that take the leap, the statistics indicate the failure rate is high. One business owner studied his new field for five years while working his original job. Then he left and pursued his passion. While this was going on, he made connections in the new industry and also obtained federal tax assistance, available for new business owners. With the right preparation and assistance, the dream really can become real.
Key Takeaways:
- Building a small business out of something you enjoy doing is worth the effort.
- The Federal tax asset deduction for small business is a helpful tool for purchasing the equipment needed to scale up production.
- Seeking the advice and encouragement of other small business entrepreneurs in your local community and through online networks can help dispel doubts and keep you on track.
“Quitting my job and starting my own unconventional jewellery business is one of the hardest, but most exciting, things I’ve ever done.”
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