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Entrepreneurship: Advantages and Disadvantages of Entrepreneurship

Entrepreneurship offers both advantages and disadvantages. The key advantages include freedom to be your own boss and set your own schedule, an exciting challenge to grow your business, and the ability to set your own earnings. However, the major disadvantages are the huge time commitment required, which many are unwilling to make, the need to compete with other businesses and differentiate your offerings, and the risk of failure since success is not guaranteed.

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54 views

Entrepreneurship: Advantages and Disadvantages of Entrepreneurship

Entrepreneurship offers both advantages and disadvantages. The key advantages include freedom to be your own boss and set your own schedule, an exciting challenge to grow your business, and the ability to set your own earnings. However, the major disadvantages are the huge time commitment required, which many are unwilling to make, the need to compete with other businesses and differentiate your offerings, and the risk of failure since success is not guaranteed.

Uploaded by

as ddada
Copyright
© © All Rights Reserved
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Entrepreneurship

Advantages and Disadvantages of


Entrepreneurship
Advantages
 Entrepreneurship is becoming more popular these
days, as many people are becoming interested in
gaining freedom from their employment.
 Rather than working for a company, they are
branching out into becoming entrepreneurs and
becoming their own boss.
 As this trend is growing at a fast rate, it is time to
look at its advantages and disadvantages.
Great amount of freedom
 If you are working for a boss and a company, you
need to meet all their requirements and only have
very little freedom on the job.
 On the other hand, if you start your own business,
you will be able to make your own demands and set
your own schedule.
 You dictate everything you do, giving you a level of
freedom that you will not see when you are
employed.
Exciting
 Entrepreneurship can be very exciting, with many
entrepreneurs considering their ventures highly
enjoyable.
 Every day will be filled with new opportunities to
challenge your determination, skills and abilities.
Set your own earnings
 Of course, you will be the one setting your own wage
and making investments when you own the business.
 The work that you do would be for something you
own, which can be a huge advantage compared to
when you are working as an employee for a certain
company.
Flexibility
 an entrepreneur, you can schedule your work hours around
other commitments, including quality time you would spend
with your family.
Disadvantage- huge amount of time.
 One big challenge in starting your own business is the
amount of time you have to dedicate to it.
 Remember that entrepreneurship is not easy, and for it to
be successful, you have to take a level of time commitment
that many people are just not willing to make.
 And even if you are able to enjoy flexibility in your work
schedule when your venture does become successful, you
will still have to dedicate a substantial amount of time to
growing the business.
Compete with other businesses
 It is very important for an entrepreneur to stay competitive.
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.
It does not guarantee 100% success
 Entrepreneurship would make your dreams come
true, which does not often happen with traditional
employment, but you need to make some sacrifices
to make it happen.
 You should know that this type of venture does not
guarantee 100% success.
Unpredictable work schedules
 One major drawback of being an entrepreneur is
that more work and longer hours will be required
from you than being an employee.
 While you want to become your own boss, you must
first know the amount of effort, time and
investment to make your venture successful
 Even though there is a lot of rewards coming from it,
it also has certain downsides.

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