Why entrepreneurs should keep their jobs and start a new business

Many New Jersey employees have been laid off in recent years. Many others would like to quit their job and pursue a business full-time. However, trying to grow a business too big too quickly can be detrimental. That's why many entrepreneurs are encouraged to start a new business on the side - and start to grow it while they are still gainfully employed.

Nowadays, job security is uncertain in any industry. If someone has a profitable business on the side, they are better prepared in case economic situations turn negative. Also, because of the economy, many people are forced to stay in jobs they don't like. With a moonlighting gig on the side, a person can find satisfaction doing what they love, even if it's not their 9-5 job.

Having employees who have side jobs is also helpful to employers. They get workers who are more creative, more ambitious and able to learn new skills quickly.

In many cases, starting a new business is easier than it may sound. For those who enjoy writing, for example, all it takes is answering a job ad for a small project or submitting a writing sample on a website. Some people start off by doing things they love, such as baking, and starting a business from there. These types of businesses are not as complicated as, say, start-ups, which require a lot of time and money.

However, some types of businesses may require licenses, permits and other types of documents. If a company has employees, things start to get trickier from there. It may be helpful for potential entrepreneurs to seek legal guidance in order to ensure they are protected.

Source: FOX Small Business, " Want to Start a Business? Why You Should Keep Your Job," Elizabeth Palermo, Jan. 30, 2014

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