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Employee versus business ownership

Let me say up front that I believe everyone should get experience working in your chosen field before you consider operating a business in that field.

I just read another story today about how a financial institution is going to be laying off thousands of employees soon.

Years ago, my Mother was worried and told me how risky it would be to go into business for myself.  That was the first thing she said to me right after I told her I was starting my own firm.  She had at that time over forty years working for a very small number of employers (perhaps two).  She told me about how so many businesses fail and what was I going to do if my business failed too.  I know she was just trying to protect me but I had already calculated the risk/reward of staying an employee versus trying my hand at self employment.  Was I scared?  Of course!  I had (and still do) a Wife and two children.  What would become of us if I failed?

So, here I am many years later after that decision.  My Mother was laid off a few months ago from her job but not because of anything she did wrong.  That particular company had to make tough cutbacks to survive.  She tells me right now it's tough to find a job because there are very few available.  

I tell my Mother what I tell you.  Start a business and be in more control of your destiny.  Start one before you need the money.  It doesn't have to be a big business.  Reinvest the profits regularly and let it grow.  You can operate it while you still have your regular job and if you are layed off from your regular job then you have a fall back.

I am a CPA in San Antonio and provide bookkeeping, payroll, taxes and more.  We offer a free initial visit and look forward to serving your business needs.