Small Business Benefits and Risks
Small Business - Benefits and Risks
Opening up a small business can bring a significant number of benefits but can also bring along a lot of risks.
Benefits:
- You can be your own boss, running a business exactly how you envisioned it.
- Ultimate control is in your favor; you can decide what goes and what does not.
- Liability and Tax benefits come along with opening a small business.
- Health insurance benefits
Risks:
- There is always a chance of the business going south and losing a tremendous amount of money.
- A significant number of legal obligations come with it, including licensing and insurance.
- Some months are more complex than others meaning making ends meet and paying bills may be extremely difficult at times.
Starting up or buying a small business is for sure a risk. You never know when something can go south and most of the time there isn't enough cash to withstand those times. There's also a big opportunity for growth and a start to a new life. You need to take risks to succeed.
ReplyDeleteDoing almost anything comes with a risk, but when the risks are this significant, the opportunity can be alarming. However, if you obtain enough passion and drive towards starting up a small business, it becomes much less frightening and more rewarding. The benefits of small businesses are worthwhile for owners, but also impactful to the community. Small businesses make a difference and bring originality and local ties to an area.
ReplyDeleteStarting a business yourself always has a huge risk that comes with it. It's never guaranteed your business will take off especially as a new business owner. However, being in charge takes a lot of responsibility. It also comes with the benefit of you running thew business how you like. However, again that means you need to make sure problems that arise get squashed.
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