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6 Tips For Starting a New Business

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After two record-breaking years of new business creation, there’s no sign of the trend slowing down as QuickBooks projects as many as 17 million new small businesses could be set up in 2022.

The prediction comes from a recent survey of 8,000 U.S. employees, commissioned by QuickBooks in November 2021. 

6 Tips For Starting a New Business

Here are 6 steps to follow for those starting their own business in 2022: 

  1. Funding. 67% of entrepreneurs plan to fund their new business with personal savings, while 49% will apply for a small business loan.
  2. Tracking. Another top priority is to start tracking expenses, with 38% saying this will be among the first things they do.
  3. Get Online. Raising awareness online and in your local community is a top priority, with 57% intending to spend more money at small businesses in the next six months.
  4. Hiring. 33% of prospective business owners said they plan to hire employees, while 40% of U.S. employees are currently looking for new jobs.
  5. Get Thrifty. Small businesses are worried about cutting costs to drive up demand, with 97% of U.S. workers worried about inflation
  6. Get Out & Shop. 87% of survey respondents say they are ready to shop in person again in retail stores.

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