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The Pros and Cons of Entrepreneurship

ArticleID 61  
Writer Grace Odinga
Category Personal Article




There are many things that drive people toward entrepreneurship. It could be necessity or passion but whatever the reasons it is important to realize that like anything else in the universe, entrepreneurship has its pros and cons. It is important to weigh them before plunging into the venture to avoid disappointment along the way.



Read on for pros and cons of entrepreneurship





Pros

• Originality

It is a good way to bring new products in the market and this provides a challenge for entrepreneurs to be unique.



• Independence

Entrepreneurship gives you a chance to become your own boss and manage the operations of the business without taking orders from anyone.



• Flexibility

As an entrepreneur, you can manage your time as you wish. Added independence lets you work when you want and give you ample time for socializing.



• Excitement

As an entrepreneur, you can take whichever path you want and this is incredibly exciting due to the feeling of adventure that comes with the unknown.



• Profits

When you become an entrepreneur, all the profits are yours to enjoy since you are responsible for all the activities of the business.



Cons

• Risk

This may become a disadvantage if your business suffers loss. There is always a high risk involved when you become an entrepreneur since you bear the entire operational burden.



• Time

Even if you are free to set your own time limits, you will have to respond to critical issues often and this may be very time consuming.



• Salary

When you start your own business, you will have to give up the pleasure of the monthly paycheck as you will dedicate most funds to the growth of the affair.



If you want to become an entrepreneur, the pros must outweigh the cons. If this is the case for you, by all means plunge in. Entrepreneurship can be very fulfilling if done right.



Pros of Entrepreneurship, Cons of Entrepreneurship
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