What are some pros and some cons of owning your own business?

Expert Solution

Advantage and Disadvantages of owning a Business:

Advantages:

-You can be your own boss and you have to make decision on your own to be successful person you want to be in life.

- One can make more for working as boss than working for others as employee.

- You get to hire other people and give them opportunity to work this way you help to stimulate economy on smaller basis and help your local community also.

- The main advantage of owning business is that no one can terminate you.

Disadvantages:

- Owning a business will give you less time to enjoy and more time on working for it so you will have to concentrate on business more.

- You will need initial investment that is one big risk that could hurt your financial and empty your pocket.

- Income source would be not consistent as some time you have to bear loss and some time profit.

- There will be lots of headache in all those process maintaining business, taking care of management and handling finance.

Rahul Sunny answered 1 year ago

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