February 26, 2016
New Jersey Business turned to Tax Partner Dane Dickler for insight into the risks of leaving a corporate job to become an entrepreneur.
By Anthony Bucci
For many individuals in the corporate world, it may be tempting to leave a job and venture out to start a business. However, it can be a big undertaking and there are many factors to consider when doing so. According to outlets like Fortune, Forbes and various industry reports, approximately 70 to 90 percent of startups fail within the first five years.
"For a lot of people with corporate jobs, the grass is always greener on the other side," says Dane Dickler, tax partner and leader of Marcum LLP's New York/New Jersey business enterprise services group. "Many times, there is a natural progression for individuals to think about starting their own business and work for themselves. However, it is not an easy process. It requires taking risks, having patience and understanding the type business they want to get into."
Dickler says that, most of the time, individuals who leave their jobs and start a business go into the field in which they work, or in which they have expertise.