BY SANDY JONES
Director
Los Alamos Chamber of Commerce

Have you ever thought about starting your own business? There are straightforward steps to starting a business, and plenty of people to help you to get started, but it’s important to ask yourself why you want your own business.

Is it for greater work hour flexibility? You can get that, but your number of work hours will almost always increase as a result of having your own business versus working for someone else.

The phrase “building a business” is used because it requires sacrifice, commitment, and ideally, a good bit of a person’s savings account.

Business Advisors generally recommend starting small, perfecting processes and growing slowly.

Borrowing large sums of money, liquidating retirement funds, or mortgaging a primary residence, are usually not recommended for financing most start-ups.

The reason for not doing so is that most businesses fail within the first five years.

Now before we get too glum, let’s keep in mind that the rewards of building your own business can be substantial.

If one can start a business part-time while still working a regular job, it can help to see if there is a market for your business concept.

We are fortunate to have many helpful free resources available in Los Alamos: New Mexico Small Business Development Center at UNM-Los Alamos; Los Alamos Chamber of Commerce Los Alamos Commerce and Development Corporation; and Los Alamos MainStreet and Creative District.

So if you’re considering starting a business, reach out to us for assistance. We are happy to help.