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Entrepreneurship may be promising following divorce

The process of dissolving a marriage can be a financial challenge, no matter one's age. However, it can be uniquely challenging for those who primarily stayed home with the children prior to the divorce and thus are left to reinvent themselves career wise. Becoming an entrepreneur in New York may very well be a helpful money-making path once the divorce proceedings are completed.

One reason to embark on the entrepreneurship path soon after divorce is that that becoming an entrepreneur may be easier to accomplish at a younger age. The longer one waits, the less likely it may be to take the risk or commit the energy to creating a brand new business. Of course, the sooner a business is created, the sooner it can start generating income that can benefit the family long term.

Another reason why entrepreneurship may be a viable option is that the skills gained from managing a home are the same skills that can help with business management. Rather than discounting one's parenting years, it can be beneficial to inventory the abilities developed. The result may be a strong resume that can be built upon further.

Financial insecurity is one of the most frightening aspects of a New York divorce. However, an understanding of one's rights when it comes to areas such as asset division and property distribution may help in achieving a beneficial outcome. A fair and comprehensive settlement may even give one the financial boost needed to create a potentially lucrative business in Bronxville and beyond.

Source: entrepreneur.com, "7 Reasons Why Divorce Is the Perfect Excuse to Become an Entrepreneur", Stacey Freeman, Feb. 6, 2017

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