How Business Owners Can Invest Their Earnings

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Running a successful business is no easy task. After all, recent research reveals that four in ten small companies don’t last for five years. After the recent political and economic uncertainty in 2016, many were also expecting this rate to rise further. However, this doesn’t mean that you should be overly pessimistic, and if your business is doing well, you should continue to forge a path to success. Here, we discuss the current economic situation and how you can reinvest your earnings at the current time.

The Current Economic Situation

Against expectations, the broad outlook for the UK economy is positive. Recently, the British Chambers of Commerce have announced that UK buying habits have shown strong resistance to the Brexit vote.

This level of robust customer spending means that the outlook for trade and investment for UK businesses is broadly positive. The economy is expected to grow a further 1.4% in 2017, which is almost at pace with the 1.8% growth we witnessed in 2016.

As a result, if you’re looking to invest some of your wealth, now could be the time. Let’s take a look at how you could make the most of the broadly positive economic situation.

How Can You Invest?

To help your wealth grow, you can invest internally within your business or externally. First, let’s look at your internal options.

Internally

Staff ­– if your customers are keen to keep spending high, then let them. Investing in new staff members means that you’ll be able to service larger orders in a higher volume, boosting your revenue.

New Products – Likewise, consider diversifying your offering to take money from your competitors. By investing in market research, you can find out what your customers really want and cater for them.

These two tactics will help you strengthen your business and generate new revenue. Sometimes, you have to spend your wealth to save even more. However, although these will help you accrue wealth, it may also be worth diversifying your assets through external investments. Your best options here are:

Externally

Property – the UK housing market continues to boom and shows no signs of slowing down. Housing is generally considered as a solid investment; particularly buy-to-let, which is low risk.

Stocks and Shares – If your business is doing well, then it’s likely that others are, too. So, it could be worth investing in other businesses. This is a higher risk strategy than investing in houses, but the rewards are potentially higher, too. Take a look online for advice on what investments could be profitable.

Forex – Finally, consider being bold, brave and bright. Geo-political tensions such as Brexit cause currency fluctuations and changes. By investing some of your money in forex trading, you could make money on these fluctuations. This is a high risk, strategy, however, so educate yourself before you begin.

To conclude, the current economic situation looks positive, so consider how you could invest to maximise your wealth carefully.

 

 

Do the hustle…

Do the side-hustle that is. Who doesn’t like making a little extra “coin” each month? I’ve pretty much determined God created me to make money. I love being productive, but I love getting paid to be productive even more. There is something about “extra” income that allows me to spend a tad more care free than my typical frugal self would.

I budget for approximately $150/month in side-hustle money. In reality I average between $300 to $500 in extra income, but I like to be a little conservative and anticipate a lesser amount. Tutoring use to be my only means of additional income, but I have began expanding my horizons and bringing in the benjamins through other means.

For example, I never really anticipated, and still don’t really attempt to make money blogging. I knew people out there did it, but I never really was that in to it. Well, come to find out, there is a secret equation that leads to monetization. It goes a little something like this…
I blogged for 8 months in 2009 and walked away with $800 in blogging income. The blogging income paid for my cable/internet ($93/month) and an occasional guilt trip run to Jack in the Crack Box.

Not only has tutoring proven to be extremely lucrative ($40/hr), but it has also lead to additional sources of income. I have become pretty good friends with most of the families I work with and they have began asking me to housesit for them. Did you know people actually pay you to eat their food, swim in their pool, and watch their TV? Housesitting is quite possibly the most epic job of all time. I usually get about $100 for a weekend gig. Little do these families know, I would totally pay them a $100 for a weekend at their place… it’s like a mini vacation. I was asked to housesit this weekend and twice in February, so I’m stoked.

So bloggity blog bloggers, What are your 2010 side hustle goals? ? Are you obsessed with finding alternative means of income? Like I mentioned earlier, I make about $500 each month… what’s your number?