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Advantages and disadvantages of owning a business

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Some people decide to start their own business instead of working for a company or organization.
Do the advantages for people working for their own business outweigh the disadvantages?

Becoming an entrepreneur is a common aspiration among independent individuals with a drive to succeed. However, starting up a business comes with a numbers of pros and cons. This essay believes that the advantages of venturing into entrepreneurship pathway outweigh the disadvantages.  In this essay, I will begin with the disadvantages aspects of owning a business and followed by the advantages.

Without a doubt, operating a business, as with all things in life, comes with its own pitfalls. One of the drawbacks about running your own business is that your earnings are uncertain. During the initial phases of the operation needed substantial financial resources as there is no guaranteed income due to some factors like economic downturns, fierce competitions and market demands. There might be chances that you may commit most of your savings especially in the first few years. Stress, is another disadvantages of owning a business. Running a business can be incredibly stressful, worrying about things such as bills, equipment breakdowns, customer complaints and the welfare of your employees. These are just few of the long list of pitfalls in handling your own business.

On the other hand, managing your own enterprise can be extremely rewarding. Working for your self is significantly different from employment in a corporation that someone else own. Firstly, being a self-employed , you are your own boss and ultimately control your own destiny. You do not have to do what they tell you and you have to make your own decisions. Secondly, financial and non-financial rewards, it gives you a chance to make more money and a myriad of intangible rewards namely flexibility, a sense of satisfaction, exposure and gratification can be fulfilling. Being an entrepreneur can give you something beyond financial success and the ability to drive your own lifelong dreams.

To sum up, though working for yourself can be risky and demanding, nevertheless, the freedom of doing work you enjoy and the potential considerable financial rewards far outweigh the disadvantages.

 

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Thank you for dropping by dear readers! If you have essay topic in mind that you want to be published in the blog, just send me an email at rsdivino@yahoo.com.

Categories: Uncategorized

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