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The Advantages and Disadvantages of Being Self-Employed.

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Introduction

The Advantages and Disadvantages of Being Self-Employed Being an entrepreneur has both its advantages and its disadvantages. The advantages of being an entrepreneur are plenty, however being an entrepreneur can definitely take its toll on a family life and yourself as a person. There are many future options for entrepreneurs, but there are several risks involved in the growth of a business. This is why entrepreneurs must be prepared to take risks and endure losses. One of the most important advantages of being an entrepreneur is the ability to be "your own boss". The entrepreneur decides when he/she is going to work. If they cannot come to work they don't have to worry about losing their job or answering to someone else. ...read more.

Middle

There are several disadvantages that accompany a high income though. As an entrepreneur, your level of income can be at it's peak one week, then drop to rock bottom the next. The income is not always steady or reliable. It all depends on how business is doing. Also an entrepreneur typically has more overhead expenses than a regular employee. So even with a high income, after expenses some entrepreneurs may not be left with a lot of liquid cash to go home with, unless the entrepreneur can find a way to reduce their overhead costs. One major disadvantage of becoming an entrepreneur is the impact it can have on your family life. ...read more.

Conclusion

There are several future options for an entrepreneur. Fortunately in the business world there is an unlimited capacity for growth. An example of this is Mr. Singh's growth in the art and framing industry (the interviewee). Even a person who starts out in a flea market can grow to become a gross production manufacturer. However growth can be limited at some points. There are factors such as competition, limited funds or the loss of a supplier that can limit the growth of a business. Business can be very risky, as there are many future options for an entrepreneur, there are also many limitations. This is why business as a secondary career plan, rather than a primary plan, would be more beneficial especially for a student who is just starting out. ...read more.

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