The cost of living is on the rise again. According to the Financial Times, 'families now need to earn at least 20 percent more than last year to achieve a minimum acceptable standard of living'. As an example of the anticipated leap, a 'couple with two children now needs to earn a gross total of 36,800 compared with 29,727 last year.'

Those who run a family business may default to despair upon hearing this news, choosing to grumble about the recession and tax and inflation in the face of the challenge that these figures present. If you are such a person, consider those in salaried positions within other companies. They are unlikely to be able to increase their income by 20 percent. Owning your own business means having a hand in your own fate, which is the ideal position to be in.