Reasons Why More People are Becoming Entrepreneurs

The world is changing faster that most people can appreciate and the technology development train is steaming along at full speed, which means this is an exciting time to be alive. The digital revolution is one of the main reasons why so many people quit their job and launched their own small business; setting up a business have never been this easy and that is part of a changing business arena.

The Service Sector

Perhaps the most popular industry for entrepreneurs, the service sector covers a wide range of fields; whether residential building services or hose supplies for heavy industry, and with a little planning and a lot of hard work, you can set yourself up in a service business. Outsourcing is the current buzzword in the business world, so the market is huge.

E-Commerce

What’s not to like about selling products online? You can run your business from your laptop and there’s no one to tell where to be or what to do; being your own boss allows you an unprecedented amount of freedom and independence. Many e-commerce entrepreneurs live in Southeast Asia or Costa Rica, where the cost of living is low and there’s nothing to tie you to a physical location with e-commerce. If you would like to learn more about setting up a shopping cart website, the Internet hosts a wealth of free resources; register a domain name, hook up with a web designer and fill the site with product images and descriptions and you are almost ready to open your e-store.

Global Communication

VoIP platforms offer real-time video calls and this plays a part in the ability to go it alone; You can do business with people from all parts of the world and using Bitcoin, money transfers cost next to nothing. Payment gateways like PayPal empower the entrepreneur and we have finally found a way to remove the bank from the money transfer loop!

The Pandemic

The covid pandemic forced many people to set up their own business, thanks largely to business closure and many have gone on to become successful and are now major employers. Working from home became a thing in 2019 and that resulted in a large portion of the workforce looking at working for themselves. If you think you would make a good entrepreneur, here are a few skills you will need.

The number of Australians freelancing is increasing exponentially and when you factor in everything, if you have the desire to create a small business, you have everything you need. The government fully supports small businesses across all sectors and this really helps when you first move into self-employment. Of course, you need to register the business, which can easily be done online and hiring a local accountant will take care of your taxes.

The emergence of AI and robotics will certainly lead to a drop in the demand for human resources and this is an issue yet to be tackled by world governments. It will take many technicians to run AI systems, but manufacturing will be transformed, with millions of workers no longer required.