EMP016 Steps that lead to a successful employee to entrepreneur move (630 words)

Thinking of starting your own business? This guide outlines financial, strategic, and planning steps to help aspiring entrepreneurs transition smoothly into self-employment and boost their chances of long-term success.

If you’ve ever dreamed of setting up your own business you’re not alone.

According to the Australian Bureau of Statistics, (ABS), in the financial year 2023 – 2024 over 400,000 Aussies did just that!

Over the same period, almost 363,000 small businesses called it quits.

The reasons vary and to assume they all failed would be unfair. However satisfying being your own boss may be, there’s no doubt it’s a tough gig. It’s time consuming and can be mentally and financially challenging; going it alone isn’t for everyone.