There’s no doubt that running your own business is a risky venture, but with that risk comes reward. Here are some of the amazing perks of starting  your own business.

1. Be your own boss

When you run your own business, you have the freedom to make the decisions that are crucial to your business success. Moreover, the personal satisfaction that comes from succeeding as your own boss is priceless and worth working for.

2. Creative Freedom

Small businesses are well positioned to introduce and develop new and innovative ideas without having to report to or get approval from anyone else. You also have the opportunity to be creative in the way you attract customers with your limited marketing funds.

3. Flexibility

As a small business, you have the room to spot trends and try them out for yourself. You have the flexibility to make quick, immediate and necessary changes that are essential to dealing with shifting conditions in your industry. You can also adapt your product based on customer feedback much more easily than a larger business can. While they are studying options and getting approval to make changes, you can already have your product on the shelves.

4. Feels like Family

In a lot of small businesses, employees are treated more like family, and in many cases they are both a family member and part of the family business. This creates a passionate and loyal team that will help you get through difficult projects and tough times.

5. Personalised customer service

Successful small businesses should take every opportunity to deliver personalised, unexpected and exceptional customer service. As you usually serve a smaller area you can really get to know your customers’ wants and needs, and building those long term, personal relationships is a huge benefit to your business.

6. Manage costs more easily

Small businesses generally require less funds to invest, market and innovate, making them more cost efficient. You do need to stay on top of your finances though, so make sure that you invest in easy small business accounting software to stay on track.

7. Do what you’re passionate about

Many entrepreneurs say that that the long hours they invest in growing their business doesn’t feel like work because they’re doing what they love and having fun. We spend more hours of our lives working than doing anything else, so why not making it something you are passionate about and that you truly believe in.