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Advantages and Disadvantages of Entrepreneurship
1.
2. Advantages:
1. Freedomof choice
In all aspects of the business. Creativity can play
a big part in starting and operating the
business. The owner is in control of all aspects of
the business, including the location and what the
operation is to look like.
4. 3.Quality of Life :
Entrepreneurs usually start businesses doing
something they love. Growing a business from a
hobby or part-time job gives entrepreneurs a
chance to improve their lives because they are
working in an environment important to them.
Working in a positive business environment may
not really seem like work to an entrepreneur.
5. 4.Freedomto questioneverything :
when engineering teams are allowed to
question why they are building something,
incorrect or unnecessary features can be
changed or scrapped early in the development
process. This saves time and results in a better
product.
6. Disadvantages:
1.Highcommitment:
You'll need to spend more time and effort to
start up. This will include developing your
customer base, establishing lines of credit and
supply and finding experienced staff.
7. 2.High risk :
Success depends totally on you and your
business talents. That's why future of your
business remains uncertain and nothing can be
taken for granted.
8. 3.Delayedprofitability:
Where the market may not already be
established, it may take longer to become
profitable.
4.More responsibility:
All of the details of starting the business,
including licenses, marketing, naming the
business, finding product sources, etc. are the
responsibility of the owner.