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Advantages and Disadvantages of Entrepreneurship in Business

Entrepreneurship is getting popular in the last period. A lot of people think of starting up their own company because entrepreneurship has a lot of advantages but also has disadvantages and in this article, we will go deeper in the advantages and disadvantages of entrepreneurship in business. 

What is Entrepreneurship

Entrepreneurship is opening a new business or company and usually, this business is small and simple with a small number of employees and the one who create this business is called an entrepreneur.

Advantages of Entrepreneurship 

Control

Being you as an entrepreneur will make you in control of everything, you have the right to choose your own working time and make the most of your strengths and skills, so you will have high results in business.

Excitement 

Working as an entrepreneur is very exciting especially in business. Each day is filled with new opportunities to challenge your abilities, skills, and determination. is not that great!

Freedom

Working as an entrepreneur will give you the freedom to work anywhere you want, any place, and any time and this will make the work you do is more efficient and it will make your business better.

Flexibility

Entrepreneurs can schedule their work hours around other commitments, including spending quality time with their families, friends, lover, and spend more time in their natural life.

Big Salary 

Most of those who are business owners can earn a big salary. It changes from month to month but usually, it is big as all the profits you can take it for your own.

Gaining Relations 

Being you a business owner will give you a chance to gain relations in business with those who work in the same field as you, so you could improve your business and trade with them.

You Are The Boss

One of the greatest advantages of being an entrepreneur that you will have no boss to bother you or tell you what to do. You will do your own, also you will work any time you want by the vision you see it good.

Disadvantages of Entrepreneurship

Long Work Hours 

In the beginning, every business owner must sacrifice and spend long working hours to put a strategy and plan for work, also until everything is ready you can decrease the number of working hours.

Hard Competition

It can be difficult to compete with other businesses at the beginning of the work. This means that you have to differentiate your business from others in your niche in order to build a solid customer base and, finally, become profitable.

Big Responsibility

One disadvantage of entrepreneurship is being responsible for all aspects of the business. An entrepreneur must handle everything from sales to accounting to product development as well.
 
High Risks

Being a business owner demands the ability of risk management because in entrepreneurship you will face many risks especially at the beginning. Like any other thing, the beginning is hard.

In conclusion, entrepreneurship is quite good it just like any other thing in this world that has pros and cons and if you want to an entrepreneur take the risk and do not hesitate. 

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