Question

what are the some advantages of small businsss ownership ?

Answer 1

1. INDEPENDENCE- entrepreneurs are their own bosses. They make the decisions they choose whom to do business with and what work they will do. They decide what hours to work, as well as what to pay and whether to take vacations. For many entrepreneurs the freedom to control their destiny is enough to outweigh the potential risks. 2.FINANCIAL GAIN-entrepreneurship offers a greater possibility of achieving significant financial rewards than working for someone else.owning your own business removes the income restraint that exists in being someone elses employee. Many entrepreneurs are inspired by the mega milionaire entrepreneurs we see today, such as steve jobs, elon musk, jeff bezos, and mark zuckerberg. 3.CONTROL-it enables one to be involved in the total operation of the business. From concept to design to creation, from sales to business operations to customer response. This ability to be totally immersed in the business is very satisfying to entrepreneurs who are driven by passion and creativity and possess a "vision" of what they aim to achieve. This level of involvement allows the business owner to truely create something of their own 4.PRESTIGE-it offers the status of being the person in charge. Some entrepreneurs are attracted to the idea of being the boss. In addution, though, there is the prestige and pride of ownership. When someone asks, "who did this? " the entrepreneur can answer,, "I did." 5.OPPORTUNITY -Enterpreneurship creates an opportunity for a person to make a contribution. Most new entrepreneurs help the local economy. Afew through their innovations contribute to society as a whole 6.EQUITY-it gives an individual the opportunity to build equity, which can be kept ,sold,or passed on to the next generation. It's not uncommon for entrepreneurs to own multiple businesses throughout their life. They establish a company, run it for a while, and later sell it to someone else.if they are not interested in selling the business the goal may be to build something that can be passed down to their children to help ensure their financial future in addition, small businesses have certain advantages over large businesses. Flexibility generally lean staffing and ability to develop close relationships with customers are among the key benefits of small businesses.