Having your own business: too risky or pandemic insurance?

Owning your own business presents itself as a highly desirable goal, and for many reasons. It is a chance to make your own decisions, have more flexibility in terms of designing your day-to-day life and be free to dedicate yourself to the kind of work you love and feel matters most.

On the flip side, it can also mean added risk and responsibility. And for all the emotional drive that can make it a big success, it is not uncommon for fear to be one of the struggles of the entrepreneur, present or would-be alike.

After all, for many people the idea of running a business is still very much associated with office spaces, hiring a team and needing to make a substantial upfront investment for something that is not guaranteed to succeed.

But much like with investing, the business landscape is also changing. More and more the connectivity set forth by digital means and new forms of collaboration is empowering a new generation of entrepreneurs to enter the arena. And to do so with less risk as well.

With tendencies ranging from bootstrapping to side-hustling, more and more people are beginning to see business as a complement, an add-on that is not meant to replace their current income, but to boost it.

Starting small on the side can be a great way to get to a place where you are able to grow with incremental steps and gain proficiency on your craft and that management side.

And while it may feel that a global pandemic is not an ideal setting for a business venture, there are a few points that are worth considering:

Conditions will never be 100% favorable;
There are businesses that are thriving right now; and
Diversifying your income is a great way to build a safety net so you are not dependent on a single source.

This is very much in line with Iban Wallet facilitates in terms of investing. Being able to start with small steps and improving day by day, agile digital tools and structure to bring down costs and, at the end of the day, being able to get more from your efforts.

In order to be closer to our customers“ needs, all of our investment solutions are also available to their business as well. Be them big or small, starting up or established players in their market, all businesses should have adequate means to manage corporate funds separately from their owners“ assets and fiscal responsibilities.

This is our commitment for a simpler, affordable and more open access to capital. Because shared growth is a growth that multiplies and ends up benefiting us all.

Keywords:fintechs, zinsentiefe , investments , finanzlösungen


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