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To be a successful entrepreneur requires business planning, innovation and risk-taking. In short, it is a lot of work! But there are many benefits too. Let's look at some advantages of being your own boss.

You Can Put Your Own Ideas to Work

Being your own boss can allow you the freedom and independence to use your own ideas. Working for someone else can suppress your creativity and drive. As an entrepreneur, your time and energy can be spent creatively by putting these ideas to work for you and the future success of your business.

You Can Decide on What Type of Business You Want

Your business should complement your experience, interest and knowledge. Before you put too much work into your business, make sure that the area you choose is the right one for you. You may first want to consider what hobbies and interests you have, as well as your experience and background.

You Make the Decisions for Your Business

Starting your own business can be risky; however, desire and persistence along with innovative thinking are in your favour. Believing in yourself and basing your decisions on prior knowledge and experience can lead to the success of your business. However, knowing the limits of your own abilities and not being afraid to ask for help from experts or knowledgeable staff are necessary for making business decisions.

You also get to establish the policies for the business and set the tone for its culture. You can build a business that meshes well with your own personal values. This can be a significant benefit compared to working for someone else where you may have to follow policies that you do not agree with or where you may feel like your personal ethics are compromised.

You Can Choose the Location for Your Business

If you are tired of a long commute or if your family is considering relocating, this may be a good time for you to start your own business. You can choose a location for your business that suits your needs, whether that means working from home, working close to home, or taking the opportunity to travel a lot and see different locations. You can choose between having a trendy downtown location or a place outside a city to avoid traffic. While you have a lot of flexibility in choosing a location, you have to consider your potential clients' needs too, as you can lose customers by choosing the wrong location.

You Have the Potential to Earn More

As an entrepreneur, you have the luxury of working your own hours and stretching your earning potential. Usually, this success comes with hard work and long hours. If your business is successful, you will probably make more money than you would when working as an employee. However, the downside is that there is no guaranteed pay cheque and your hard work can cut into time for personal and family obligations.

You Can Be Involved in the Total Operation of Your Business

Running your own business can provide you with a tremendous source of satisfaction and pride. You will be able to see your business grow from the ground up.
However, you will also be responsible for the initial capital that will be required for your business and the costs involved with the day-to-day operation of the business. You may also have to do some administrative tasks that you may not be trained to do, such as purchasing and accounting. It never hurts to get professional help with the running of your business as, sometimes, the administrative tasks take more time than the actual day-to-day operation of your business. They also take you away from the tasks where you can provide the most value.

You Can Turn the Business Into a Family Asset

A lot of people go into business in order to have a place for their children to work at part-time jobs and to finance their education. This can take a burden off the parents in terms of financing their children's education and also give the children valuable life skills.

Depending on your children's career aspirations, you may also be able to pass the business down to them when you are ready to retire. Family businesses can also provide employment for other members of an extended family that are unemployed or underemployed.

Take the Entrepreneurial Self-Assessment to see if entrepreneurship is right for you.

Get guidance and a grant for your small business.

If you’re starting, expanding or buying a small business, apply for training, mentoring and a grant through Starter Company Plus.

Four grants awarded for a total value of $20,000 in Prescott and Russell

L'Orignal, March 27, 2023 – The Prescott and Russell Entrepreneurship Centre (PREC) would like to congratulate the work of four entrepreneurs from the region for obtaining grants totalling $20,000 under the Starter Company Plus program for their local business.

As part of the Starter Company Plus program, offered in collaboration with the Ministry of Economic Development, Job Creation and Trade, these entrepreneurs attended workshops on topics directly related to small business. In addition to participating in training workshops, participants developed their business plans and delivered a pitch in front of a panel of judges like the "Dragons’ Den," in order to be selected to receive a $5,000 grant each. Further to the insightful comments and feedback received from the jury, this financial assistance in the form of a non-refundable grant, will help with equipment purchases, inventory purchases, marketing expenses and expansion costs.

"Through these workshops and the exchanges between them, it allowed the existing entrepreneurs in the program to take a step back, analyze their business and review their action plan to progress and grow both personally and professionally. The new businesses took the time to plan and organize their ideas in order to start the right way," says Liza Langevin, the PREC’s Project Officer.

The four recipient businesses were chosen by a selection committee consisting of Louis Béland (Eastern Ontario Training Board), Renée Gendron (PARO Centre for Women's Enterprise), Nibraz Ezzedine (La Cité des affaires) and Clovice Ilboudo (Société Économique de l’Ontario).

The Prescott and Russell Entrepreneurship Centre is proud to present the four recipients of the Starter Company Plus program grant:

• Cynthia Fotti, CrossFit Rush, Rockland. 
•  Francesca Boudreault-Maisonneuve, Next Step Foot Care and Reflexology, St-Isidore.
•  Vivianne David, Vilayala, Vankleek-Hill. 
• France Lacoursière, Curago Physio, Wendover.

The Starter Company Plus program provides financial support for the launch of a new business, the expansion of an existing business and the purchase of a business. The Prescott and Russell Entrepreneurship Centre is a non-profit organization whose mission is to help small business owners in Prescott and Russell succeed in their start-up or expansion project.

Kamalie Langlois – Nchanted Soap
Kamalie Langlois is an 18-year-old from the Rockland area who will be starting her post-secondary education at Algonquin College in business. Being a creative young woman, she has started to create her own soaps. Her natural soaps are handmade and stand out because they are environmentally friendly, including the shipping bags. She decided to turn her hobby into a job. With her business, customers can decide to customize their soaps, such as colouring, dried flowers, and essential oils. She sells her products through the Etsy platform. Despite the challenges, she has never given up and is persistent. Kamalie has a long-term vision where she plans to also make bath bombs and candles in the future. Her experience has been rewarding, and she has gained a lot of knowledge that will be very useful to her as she continues her business journey.

Alexandre Rainville – 2 Beauties
Alexandre Rainville is a 17-year-old young man from Casselman. Being active, he started his small business where he sells personalized clothing according to the consumer's taste. He modifies the colour and the writing on his products such as t-shirts, sweatshirts, and caps. Indeed, the customer can choose a personalized writing embroidered on the product. He differentiates himself from his competitors with his simple and efficient personalization service. Alexandre has at heart the well-being of people in his community. With his small business, he wants to share a message of unity and inner beauty through his products, hence the inspiration for the name of his company, 2 Beauties. He proclaims that everyone can be a "Beauty". Over the summer, his passion for his business helped him reach his sales goals. He made his sales, as well as his marketing on social networks. Alexandre stood out for his professionalism, his personality, and his dedication to his summer project.

Keean McEachern – KG Transport & Delivery
Originally from Hawkesbury, Keean McEarchern developed a taste for business while attending La Cité College. With his father's support in acquiring a trailer, Keean started his own transportation and delivery business. Keean was motivated to start this project because he noticed that this service was in high demand in his area. He targets large deliveries and offers a flexible schedule. He does a little promotion on social media and by sharing his business cards. His launch into the business world has been a success. He has gained important knowledge. Over the summer, he learned how to handle the unexpected and how to find solutions. He was able to learn about many aspects of entrepreneurship such as insurance, permits, and finances. With his continued education, he will continue his business.

Jacob Davidson-Jean – Jacob’s Landscaping
Jacob is a 15-year-old young man from Hawkesbury who had the ambition to make his summer productive. He obtained a lawnmower and started mowing his neighbours' grass and taking care of their lawns. He went to some of his customers' homes to maintain the lawns and water the flowers. His small business allowed him to gain experience and independence. His business was his first work experience. Despite being very shy, Jacob showed courage by knocking on some of his neighbours' doors to promote his services with the help of a mentor. Now that he has acquired the knowledge and equipment he needs, he plans to do it again next summer.