Advantages:
- Decisions can be made quickly
- Owner retains all profits
- Flexibility
- Develops personal relationship with customers
- Full control of the daily operations
- Freedom to take creative control to help business grow
Disadvantages:
- Unlimited liability
- May lack skill in certain areas
- Long hours
- Vulnerable to changes within the economy
The advantages and disadvantages of working for someone else:
Advantages:
- Security ( gets wages weekly, monthly or every fortnight)
- Benefits (medical insurance, thrift fund, pension)
- Incentives ( uniforms, bonuses)
Disadvantages:
- There may not be any opportunities for growth within the company
- Ideas may not be heard, or someone else might take credit for your ideas
- work could become repetitive
i see you did not indicate whether you prefer to be a entrepreneur or to be an employee. i do believe that your first sentence gives a clue to which it is though. However you advantages and dis advantages for both choices are understandable.
ReplyDeleteAlthough i don't mind working for someone, my ultimate goal would be to own my own business and be my own boss.
ReplyDeleteBeing you own boss has both advantages and disadvantages. Therefore, the decision to become you own boss will take these factors into consideration. Once the step is made the business owner needs to work hard to ensure that the business is successful.
ReplyDeletei agree with you on begin a business owner, from the reading of your post i was enlighten as to which side is better for me. i find it to be well research
ReplyDeleteBeing your own boss has its challenges, but once you have a business plan, finance and good faith you are on your way to becoming an entrepreneur
ReplyDeletei like your way of thinking... you sound like u will make a good business woman
ReplyDelete