By
Kimberly Reddington
Monday, October 26, 2009, 05:50 AM
Category:
Money Matters
The unemployment rate is currently at its highest since 1983. According to the Bureau of Labor Statistics, 9.8% of the U.S. is unemployed, with 7.8% of those workers female.
The numbers are really climbing up there. Families that are accustomed to two incomes are now relying on just one. Some mothers are looking for part-time work to temporarily replace their unemployed husband's income until he can find a new job.
There is a new trend happening: many people are now thinking about starting a business in the hopes of securing some employment and income. They are making that dream come true with the help of the Internet, which is chock-full of information to get them started.
Running a business can be a great alternative to finding a new job, however there are several things that you want to think about before jumping right in. Starting a business is definitely a lot of work. You not only need to decide what your business will be and how to get it off the ground, but you also need to market your business. You need to get your name and your brand out in front of many people before you will see any results. Marketing a new business takes up about 50-80% of your time while the other 20-50% are spent with the day-to-day operations of your business.
The number one thing that many people don't realize is that starting a business takes time. It generally takes at least 18 months to three years to get a business running at a financial level of income that you could comfortably live off of - depending on the amount of income that you need to bring in. Make sure to implement this time frame into your business plan as well as your family's personal budget. Remember: starting a business isn't for the faint of heart. You must be willing to put in the time and effort required to really get your business off the ground.
The Small Business Association (SBA) site is an excellent resource with information and training on every aspect of running a small business, from how to get started and preparing a business plan to finding funding and sales/marketing. 
The Get Ready page explains whether entrepreneurship is right for you and answers to some of the commonly asked questions about starting out on your own. The SBA is an excellent place to start.
--Kimberly
Photo courtesy of thedigeratilife.com