• Subscribe
    1. Discussions
    2. Is starting a small business the best way to achieve...

    Is starting a small business the best way to achieve financial independence?

    Alexey Anshakov
    4 replies

    Replies

    Nick Bess
    Absolutely! I started a business and now run it completely remotely. I'm financially independent and I like it. No regrets. Of course, I can't say that the process was very easy and took one day, but modern technologies make it much easier. I used Google for most of my questions. At first, I figured out the advantages and disadvantages of a sole trader and a private company. Then I chose a name. Later, I discovered how to check if a company is legally registered in the uk (here this guide https://www.hoxtonmix.com/blog/a... provided me with all the needed info). I decided to set up a virtual office and use its address for registration and mailing. It also eased the process. Now I can say that everything is possible if you really want it.
    Share
    Lukas deConantsesznak
    Occasional.ly
    Occasional.ly
    I guess "best" is kind of a loaded term here. Being an entrepreneur is the way to achieve the "best" kind of financial independence where you can have a truly resilient financial state. But it's not the easiest to get there of course!
    Share
    Alexia Gold
    I think, yes. Until you work for someone, you will always earn as much as they are ready to pay you.
    Share
    Rik Rozo
    Starting a small business can indeed be a powerful path to financial independence, but it comes with its own set of challenges and rewards. The key is to choose a business that aligns with your passions, skills, and market demand. It's also important to understand that success won't happen overnight; it requires dedication, resilience, and smart planning. A great example of achieving financial independence through a unique path is Andrey Burim, also known as Mellstory. By leveraging the power of online platforms and video streaming, he has built a significant following and income. This is a testament to the fact that with the right approach, even unconventional business models can lead to substantial financial success. If you're interested in learning more about his journey and how he's built his wealth, check out the Mellstory net worth 2024 page. Ultimately, the best path to financial independence depends on your personal circumstances, goals, and the amount of risk you're willing to take. It's always wise to research thoroughly and, if possible, consult with financial or business advisors to craft a plan that's right for you.
    Share