There are plenty of benefits that come with starting a business, including having more flexibility and freedom with your schedule. For many individuals, however, the process of becoming an entrepreneur is a bit intimidating because it comes with so many questions.

The good news is, there are several opportunities and resources available for veterans these days that can make the path a little easier to travel. Start by reaching out to local businesses that are veteran-owned so you can network; forging a connection with a company like CLR Marine will give you some support as you start your journey. Then, think about how you can protect your business and grow your ideas at the same time.

Start with a sustainable idea

There are tons of business ideas out there, but only one will be perfect for you and your specific needs and skills. If you have the time and patience, you can build a company from the ground up based on something you enjoy doing, such as woodworking or baking. However, you might consider looking into a franchise, which includes benefits such as built-in branding that already has a customer following and a handbook for daily business operations. This is a great way to ease into the business world because it takes some of the pressure off your shoulders.

Look for funding

Once you have an idea of what sort of business you want to start, it’s time to look for funding. There are several resources available for veterans, but there may only be a few that are right for you. Decide whether you want to look for a loan or a grant, then do some research on which ones you qualify for. Keep in mind that some grants may depend upon the size of your business and whether you plan to have employees, while others factor in your years of service or whether you are living with a disability. It’s also important to note that there are many other resources available to help you cut down on costs and save money throughout the year.

Get some benefits

One resource available to all business owners is the formation of an LLC, or Limited Liability Company. This is a great way to add some protection to your company as well as some tax benefits, as Florida LLC owners aren’t required to pay state taxes on their business income. There are some other tax requirements, however, so it’s essential to find out the rules and regulations that are specific to the state of Florida. Read over the specific steps and guidelines for forming an LLC, and consider using a formation service that can help you get through the process with no issues. 

It’s important to stay organized during this process, so create an area to safely file paperwork related to your business. Keep it separate from your personal files so there will be no confusion come tax-time.

Expand your education

One final consideration to make when you’re ready to start a business is how to expand upon your education. As a veteran, you already have an advantage in the business world due to your leadership skills and the ability to adapt to change, so now might be the time to focus on learning more about building a successful website or how to create a marketing plan. There are plenty of free educational opportunities for veterans online, including business classes and workshops, but you can also connect with other small business owners to learn how they’ve handled getting set up. Look for networking opportunities on social media and research more about how to create targeted ads on platforms like Facebook and Instagram to reach more customers.

Starting a business can be stressful, but you can minimize frustration by giving yourself plenty of time to set things up. By getting all your ducks in a row and staying organized, you can bring your business plan to fruition.

Ready to get in touch with CLR Marine? Fill out the contact us form or call 877-275-2576.

Kelli Brewer

DeployCare.org

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