Saturday, January 29, 2011

Don't forget about the little guy.

Entrepreneurship has fascinated me since I learned what it meant in grade 11 economics. My interests in the topic lead me to study business at University. I would love to start my own business one day, but I also know it's not as easy or glamorous as we may think it is. There are advantages and disadvantages to owning a business, but I believe there is a future for small businesses.

I’ve been involved with a few businesses in the region. I worked with my cousin for a few months with a nutritional consulting business. The past two summers a couple of my friends had the opportunity to run a bar in the heart of Niagara Falls, which I helped with. I am always brainstorming with friends and family for new business ideas and I am looking forward to feedback from this blog.

There are many advantages to owning your own business. There is the freedom to operate independently, making your own decisions at your own risk and then reaping the rewards of your efforts. It is easier to respond to the marketplace, when you see and interact with your customers directly. This also creates accountability and loyalty with the customers. There are government grants available when starting a new business, so the government thinks it’s a good idea. Small business also stimulate the local economy, which is important during a recession.

Owning your own business takes A LOT of time, effort and money. The failure rate for small business is high, usually from internal mismanagement issues. I would like to explore some of these challenges at some of the businesses I look at.
The purpose of this blog is to highlight some of the amazing businesses that are around the Niagara Region to encourage people to shop locally and intrigue people to start a business of their own.

Questions, comments and concerned are welcome!
If there is a business you think I should blog about, please share!