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WHY ARE PEOPLE SCARED OF STARTING A BUSINESS?

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When I interact with people, I also have to learn about their fears. I have found that it is often what we want that scares us the most. One of these fears is about deciding to start my own business. The reasons for these fears can be manifold.

✔ Psychological blocks related to mistrust, low self-esteem and an unconscious desire to "avoid" money (where the person subconsciously associates money with "dirty business"). Perhaps these inner Obstacles can often seem difficult to overcome, but once you start to remove them, things start to move more smoothly.

The belief that doing business for business's sake is low. In this case, the person is looking for an activity with a higher meaning, wants to create something unique, beautiful, socially useful, etc. If the search for a deeper meaning is not successful, the business is stuck without even getting started. And there is nothing wrong with seeing your business simply as a source of finance. Especially as we can always, for example, donate some of the money we earn to charity and win all round.

Perfectionism. It often seems that all experienced entrepreneurs are very capable and knowledgeable, and that it is necessary to learn a great deal, obtain diplomas, etc. before starting out. In fact, the best way to learn is to learn everything after you have started. Believe me, there is not a single entrepreneur who has not made mistakes.

The notion that once a company is set up, everything will have to be paid in tax. Of course, taxes will have to be paid, but if you calculate everything properly and take advantage of certain incentives, the threat of bankruptcy is minimised. After all, there are now all sorts of business start-up grants, subsidies, accelerators and so on. Why not take advantage of them?

By the way, I also had some scary thoughts before I started my work. In my experience, it is important not to identify with those thoughts and to be able to look at them from the outside. And to remember that you can always ask for help, get advice.

If you're still thinking about starting your own business but are worried about whether you'll be able to cope with tax, get in touch. We'll help you get it right, calculate, assess and make the right decision.

 

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Business and personal finance mentor
Visita Ivaškevičiūtė

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