Business is the greatest fortune to become rich. These days most of the youth chose to run their own business instead of working for someone else. In my opinion, running a business has many challenges so to be successful they have to overcome the hurdles. In this essay, I would like to state the advantages and disadvantages of running own business.
Prior to setting up one's own business they must have some experience about the business and need to work under others to gain knowledge and essential information about management. The major barrier to starting a business is a lack of enough fundings. Even banks do not come forward to lend money to support new entrepreneurs. Initially, some risk has to be done to start a business. In few instances, they even have to bear the losses but should not take a back step.
On th the other hand, the business has ew merits like the stakeholder has the freedom to make his own decisions. The profits earned can be invested to earn greater returns. There are huge benefits in terms of timings that is flexibility in working hours and taking holidays as per his/her wish. Moreover, few skills are required to effectively run the business such as good decision making, great communication and efficiently managing employees.
To sum up, to start a business one should gain some experience by working in a similar company. Though the business is risky, one has to step up boldly to face the obstacles and sustain in it.
Business
is the greatest fortune to become rich. These days most of the youth chose to run their
own
business
instead
of working for someone else. In my opinion, running a
business
has
many
challenges
so
to be successful they
have to
overcome the hurdles. In this essay, I would like to state the advantages and disadvantages of running
own
business.
Prior to setting up one's
own
business
they
must
have
some
experience about the
business
and need to work under others to gain knowledge and essential information about management. The major barrier to starting a
business
is a lack of
enough
fundings
. Even banks do not
come
forward to lend money to support new entrepreneurs.
Initially
,
some
risk
has to
be done
to
start
a
business
. In few instances, they even
have to
bear the losses
but
should not take a back step.
On
th
the other hand, the
business
has
ew
merits like the stakeholder has the freedom to
make
his
own
decisions. The profits earned can
be invested
to earn greater returns. There are huge benefits in terms of timings
that is
flexibility in working hours and taking holidays as per his/her wish.
Moreover
, few
skills
are required
to
effectively
run the
business
such as
good
decision making
, great communication and
efficiently
managing employees.
To sum up, to
start
a
business
one should gain
some
experience by working in a similar
company
. Though the
business
is risky, one
has to
step up
boldly
to face the obstacles and sustain in it.