New Business

Ever thought about owning your own business? Being your own boss? Moroney & Associates can help. Although the journey to self-employment can be daunting, our professional staff are here to help you all the way.

Before making the leap into self-employment, it is important to consider the following;

Factor 1
Do I have any savings? Or a safety net?
Factor 2
Is there any legal reason I would not be able to operate e.g. Government regulations, employment contracts etc..
Factor 3
Do I have the drive to push through the hard times.

If you have answered the above and are satisfied financially and personally you have what it takes to be in business, there is a few main area’s which a little investment now, can save a lot of money in the future;

Factor 1
Ensuring you have the correct entity structure in place; this can have huge consequences if not set up correctly from the beginning. Potential consequences of not starting with the correct entity structure couple be, asset protection issues, increased income tax etc… Please contact our professional staff to discuss this further.
Factor 2
When self-employed, it is imperative you have good discipline and drive, as there is no one to force you to do work but you. It may sound daunting, however both of these items you can improve with constant work.
Factor 3
Stress Management; stress management is often over looked when considering financial/business ventures. However in our opinion, it is one of the leading causes of business hardship. It is important to engage in stress relieving activities such as exercise and meditation for example. A 30 minute walk every morning will do a world of difference for your day, you will feel more energised, able to cope and solve business problems and make you feel happier as a person.
Factor 4
Accept not everything is going to go your way, it may sound negative, and however it is a very positive position to work from. If you truly accept not everything is going to go your way, and not everything is going to work. When something does go wrong instead of seeing it as catastrophic and having a meltdown, you view it as a new challenge to be overcome.

If you are still interested in opening you own business please contact Moroney & Associates, we will be happy to walk with you through the labyrinth which is small business ownership.

“Don’t fear failure so much that you refuse to try new things. The saddest summary of life contains three descriptions: could have, might have, and should have.” - Louise E. Boone

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