How To Start a Business at Different Stages of Life
It is never too early -- or too late -- to start a small business. Just because you're at a place in your life where it might not seem conventional to make a career shift, that doesn't mean it's too late for you to rediscover your entrepreneurial spirit and kickstart the business of your dreams in a way that works for you. Whether you are a busy mom of four who needs the flexibility of working from home or a retired algebra professor looking to share your knowledge with the next generation, there is a small business for you.
Here It Is: Our 2022 Small Business Spotlight
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GOBankingRates has compiled a list of our small-business recommendations for Generation Z, moms, retirees and anyone looking to start a small business. The best part is that most of these are businesses you can build from your own home. Here's some advice on how to go about starting an entrepreneurial venture throughout different life stages.
Small-Business Ideas for Gen Z
The doors to success are wide open for Gen Z, as this generation has an abundance of new and up-and-coming ways to be successful entrepreneurs. With the rise of remote work opportunities along with the explosion of the digital world, there are many avenues this generation can go down when considering what type of small business to start.
Here are a few small-business ideas for zoomers to consider.
Start a mobile photography business
Become a graphic designer
Start a blog
Become a social media marketer
Start a website development business
Start a tutoring business
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Small-Business Ideas for Moms
Mothers are often the primary caregivers of their children or the ones in charge of finding child care. This group of tireless workers is prioritizing entrepreneurial opportunities that allow for a flexible schedule and a healthy work-life balance.
Here are eight small-business ideas for mothers that can be done from home or remotely to allow them the freedom they need to balance motherhood with their careers.
Dog walker
Freelance writer
Parenting blogger
Social media manager
Bridal consultant
Tutor
Home day care provider
Event planner
Small-Business Ideas for Retirees
Retirement looks different for everyone. While some may enjoy the freedom from working, others may yearn for the opportunity to be self-employed and make some extra money during retirement. Starting a small business can be a fulfilling way to pursue a hobby you are passionate about and apply your life experience to a legitimate business. The best part -- you likely won't have too much of a learning curve.
Here's a roundup of our favorite business idea for retirees.
Coaching
Consulting
Dog walking
Running an online store
Tutoring
Tips for Anyone Who Wants to Start a Small Business
There's no need to wait until retirement to establish the small business of your dreams. Anyone can get started putting pen to paper and creating an effective business plan.
Here are some tips for getting started.
Test to see whether you have a viable idea
Choose a structure for your business
Craft a business plan
Raise money
Choose your location
Name your business
Register your company
File for your EIN
Get required permits and licenses
Open your business bank accounts
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This article originally appeared on GOBankingRates.com: How To Start a Business at Different Stages of Life
