If you're considering opening your own small business in the new year, now could be the perfect time to begin giving it some serious thought. After all, small businesses across the nation are the backbone of our economy and can be a lucrative experience if done right. But if the self-satisfaction of opening and maintaining a small business isn't enough, there are a wide range of other benefits that can come from opening your own business in New Zealand. Monitoring Your Own Cashflow Becoming profitable is one of the main reasons why many people choose to open a small business. The joy comes from seeing your own venture prosper, growing with each successful sale and beginning to build up a strong basis for development. Utilising accounting software like CashManager from Accomplish will help you to keep a close eye on this growth, allowing you to generate reports to watch for trends, potential growth areas, and keep track of your business's income and expenses with ease. Being Your Own Boss Putting yourself in the driver's seat of your own business venture gives you a degree of freedom afforded only to the owners, allowing you to create your own long-term goals. As the business begins to grow, you can delegate tasks to your employees and begin to enjoy your role as overseer. This could free up your days and afford you the leisure time you've always dreamed of having. Learning Experience Opening a small business was never going to be easy. It will be a long and laborious experience, with growths and setbacks. You'll be putting yourself at financial risk to begin with and the degree of your success will depend on a number of factors - some of them out of your control. But during this time, you will be picking up valuable skills and confidence, helping you to learn about yourself and grow as both a person and a business owner.