It may take years for you to develop a business idea and muster up the courage to launch. So when you are finally ready to launch your small business, you don’t want to delay the process any longer. If the time for you to start your business is now, in the fourth quarter of 2020, you may be hesitant at first since the fourth quarter technically is when most small businesses’ fiscal year ends.
However, there are plenty of reasons why you should start your business during this quarter, and we have some tips and tricks that will lead you to business launch success.
Q4 Business Launch Callouts
Most entrepreneurs use the end of the calendar year as the end of their fiscal year. This means that Q4 is spent tallying profits, looking over financial statements, calculating potential tax projections and wrapping up planning for the upcoming year. Therefore, Q4 may not be the most desirable or popular time to start a business.
However, there are plenty of profits to be had during this season. Due to the holidays, consumers are willing to spend money on gifts and experiences. The increased sales potential during this season may help your business get off to a strong start. Holiday retail sales are likely to increase between 1 percent and 1.5 percent, according to Deloitte’s annual holiday retail forecast. During the same period last year, sales grew 4.1 percent.
However, Deloitte also forecasts that ecommerce sales will grow by 25 percent to