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The American Dream has an independent spirit. Americans are inspired by the business world, where rewards are often driven by merit, rather than favoritism in the workplace. Business owners embrace self-employment for its sense of purpose.
Mission Statement
Businesses provide their owners with feelings of accomplishment through the execution of a mission statement related to providing goods and services that match owners' beliefs.
Benefits
Business owners face no limitations in terms of growth. The profits and the scale of your business can surge with a smart strategy. Furthermore, establishing a viable business over the long term allows you to build a legacy that may be passed onto heirs.
Considerations
Put your personal finances in order prior to forging your own business. Review your credit report to check for errors and work toward an improved score. Additionally, you should build up savings to finance start-up costs, which can help you access credit more easily and under better terms by showing financial stability.
Time Commitment
Business ownership is more of a time commitment than serving as merely an employee.
Warnings
Owning a business brings up liability issues. Even corporations that are set up to provide limited liability status may be exposed to litigation over cases of extreme fraud.
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