Question

If you have never thought about starting a business or have no desire to own one, tell us why. Would you rather not have the responsibility or burden? Include the advantages of not starting a business and the cons about it.

Answer 1

Please comment in case of any query regarding this solution. Do Upvote for the earnest efforts put.

I do not have desire to own a business due to one or several of the following reasons:

• Fear that the proposed buisness will fail.
• Lack of men, material and financial resources to start business.
• No prior experience as a chief decision maker or as an entrepreneur.
• Already like the present job which is challenging and exciting.
• Have no ability to sell.

Advantages of not owning a business:

• Cash flows are uneven in case of business. Hence preferring job which offers a fixed cash flow for period is better.
• Businessmen find it really hard to manage work life balance. Thus they fail to spend ample time with their families
• Businessmen find it difficult to cope up with additional business stress. Thus research have reported that business owners particularly to small or medium sized businesses are more prone to health disorders.
• Sometimes work life as an employee is more challenging, exciting and rewarding makes one prefer employment over own business.

Disadvantages of not starting a business:

• Starting own business makes one financially independent. However if he/she is employed they will have to depend upon their employer for financial resoruces.
• Employment has its own associated stress that business doesn't have. Initial struggle in the business will contribute to experienced entrepreneurs and nurture them to achieve success. Employees are put through the stress but by the time they make it on top, they tend to be old and retire.
• Creativity is always more in starting own business.
• Contribution from hard working employees always credits to the goodwillgof their employer. Same efforts put by a businessman adds to his own goodwill.