If you're considering founding your own company, the first thing to know is that you're not alone.
In fact, a study released by Civic Ventures in November of last year found that one in four U.S. citizens between the ages of 44 and 70 were interested in starting their own companies.
Some of the benefits of owning a small business are obvious – you get to do something you enjoy for a living, set your own hours and be your own boss. However, chances are that community oriented business owners (COBOs) also want to give back to the local area, which is another perk of being an entrepreneur.
According to figures from the United States Small Business Administration, small enterprises represent 99.7 percent of all employer firms, have half of all private sector workers on staff and pay 44 percent of the country's total private payroll.
As the Florissant, Missouri, Patch puts it, "In addition to simply providing a new product or service for the community, small businesses are good for the economy."
Stop in to your local My Bank branch, visit mybank4.com or call 1-888-mybank4 for financial tips that can help you turn your dream of small business ownership into reality and give back to your community as you do so.