5 Financial Businesses You Can Start in Salem

Well-informed decision makers have a foundation for success.

Photo: JESHOOTS.com, Pexels

(SALEM, Ore.) - The world of finance is vast and very complicated. There are many regulations surrounding money and finance – making it the perfect industry to start a business in, especially if you’re located in Salem, Oregon.

Many people aren’t sure what to do with their money. So, as someone who is interested in finance and has an education in it, there is a lot of potential to make a lot of money yourself helping others with theirs.

Before starting a business in the financial industry, which is growing each and every day, it’s essential to conduct financial market research to better reach your clientele and boost your business even more.

Credit Repair Service

You know just how important a good credit score is, especially if you want to buy a house, car or ask the bank for a loan. Unfortunately, for those with a bad credit score, it can be very difficult to repair and could even take years if done on their own.

Luckily for you, you can offer a service to help them repair it quickly and strategically. This is a great service to offer because it allows you to help people get their life back on track instead of worrying about a number.

Financial Advisor

Many people don’t know how to make their money work for them. As a financial advisor, you can help guide people to invest their money in the right stocks, bonds, and assets to produce an extra income or security net without having to work too hard for it.

Learn about your clients’ financial goals and figure out the best way to get them there. This business works well as an awesome referral network, so make sure to incorporate an incentive program.

Accounting Firm

What we used to call bookkeepers are now known as accounting firms. You can help businesses keep track of their expenses, revenue, and profit through organized charts, spreadsheets, and calculations as an accountant.

This will require you to pass the CPA exam and become a certified accountant, but it can be a lucrative and beneficial financial business for both you and your clients.

Official Tax Filer

Nobody likes to file their taxes; it’s confusing and overwhelming. So, help everyone out to get their taxes professionally filed before April 15th every year.

For just a few months out of the year, you’ll be super busy filing people’s taxes and helping them get the returns they are counting on. But the rest of the year is spent growing your business, getting the word out, and attracting more clients in Salem.

Day Trader

Lastly, you can become a day trader. If you like a fast-paced environment with high gains and losses, then this could be the perfect job for you.

Start small trading for yourself, then if you’re getting better and better at it, invite friends and clients to let you manage their money and day trades. You can definitely make a lot, but the risks are also great.

Whichever direction you choose to go, make sure you do your homework. There are no guarantees in business, but you will give yourself much better chances for success if you are an well-informed decision maker.

Source: Salem-News.com Special Features Dept.