Across Canada, thousands of people are abandoning their dependance on big business and seeking independence by starting their own venture.

Here's the top 5 reasons to start your own small business. 

1. Who's the Boss?

One of the most enticing prospects of starting your own business is control.  You are firmly in the driver's seat and single-handedly get to decide the direction of your business.  You don't need permission to take a holiday, implement an exciting new idea, or have a 4 day work week.  Take control of your life, your dreams, and your destiny.  While this might seem intimidating to some, for the right personality the lure of being in control is almost too strong to ignore.

2. The Ultimate Challenge

Given you are the boss, you will be faced with the ultimate challenge - ensuring the growth and survival of your small business in Canada.  While employees thrive on a routine job, performing repetitive tasks day after day, you'll have the wonderful opportunity to challenge yourself daily withing a constantly changing landscape. From accounting to marketing to client relations, there's a neverending source of learning and discovery. Through this journey, your business will challenge you to reach new personal highs and explore your hidden talents.

3. The Legacy

The culmination of persevering the challenges will be an equally incredible award  - establishing your legacy. Starting your own business gives you a chance to share your life story and cement your accomplishments in the business community.  Whether it's from the outstanding accomplishments you achieve or the values and causes your business helps define, your business is a vehicle for creating change and making a significant and lasting impact on the world.

4. Explore your Passion

Let's face the music - it's more fun when you are doing something you are genuinely passionate about.  The long hours you invest into your business won't feel like work because you're having fun.  If 1/3 of your life is spent "working", why not start your own business doing something you love...and turn that "work" into play?  Perhaps you have latent creativity just begging to be released but it is somehow blocked by your current job.  Living paycheck to paycheck and counting down the hours to your next weekend are strong signals to move forward.  Break free from the monotony and explore your passion with a small business.

5. The Tax Perks

One of the greatest benefits of having your own business is writing off legitimate business expenses.  This list of eligible deductions is extensive but some of the more well known include: home office, transportation and entertainment.  A less known and perhaps one of Canada's best kept tax secrets for small business owners, is the Health Spending Account.  These accounts are established to exclusively pay healthcare services for you and your family members.  Your business deducts 100% of the cost and you receive the benefits 100% tax free.

Are you starting your own business or do you currently own a small business in Canada? Learn how to boost your profits and lower your taxes by downloading our free Health Spending Account guide.