Advantages of starting
your own business
1. Each day at the office
will be motivating
2. Pursue social justice or
support non-profits
3. Achieve financial
independence
4. Can start from scratch
Disadvantages of Description
starting your own
business
Description
 Will find motivation at work every day.
 The day-to-day vitality of your business depends on you,
so you’ll be driven to make each day as productive as you
can.
 Your own hard work and drive will help you reap the
rewards, and that’ll keep the fire burning in your belly to
make each day count.
 One of the most fulfilling parts of becoming an
entrepreneur is setting up a company for social gain.
 Can opt to support non-profits, charities, or community
efforts with your profits.
 Can set up a business to solve a problem in the community
or in the world at large – whatever a passion may be.
 First, you’re building an enterprise that has the potential
for growth – and your wallet grows as your company does.
 Second, your business itself is a valuable asset. As your
business grows, it’s worth more and more.
 You may decide to sell it or you may hold on to it and pass
it down to your heirs. Either way, it’s valuable
 You can offer a product or a service that fits your vision.
 You can also build your company according to your own
ideas.
 This is your business! You make the rules. You’re not
restricted by the standards and procedures of your boss or
corporate culture.
1. Financial risk  The financial resources needed to start and grow a business can
be extensive.
 You may need to commit most of your savings or even go into
debt to get started.
 If things don’t go well, you may face substantial financial loss.

2. Stress  As a business owner, you are the business. There’s a

bewildering array of things to worry about—competition,
employees, bills, equipment breakdowns, customer problems.
As the owner, you’re also responsible for the well-being of your
employees.

3. Time  People often start businesses so that they’ll have more time to
commitment spend with their families. Unfortunately, running a business is
extremely time-consuming. In theory, you have the freedom to
take time off, but in reality, you may not be able to get away. In
fact, you’ll probably have less free time than you’d have
working for someone else.

4. Undesirable  When you start up, you’ll undoubtedly be responsible for either
duties doing or overseeing just about everything that needs to be done.
You can get bogged down in detail work that you don’t enjoy.
As a business owner, you’ll probably have to perform some
unpleasant tasks, like firing people.
.