The Good and the Bad of Becoming a Small Business Owner

                                    The Good and the Bad of Becoming a Small Business Owner

Some people attempt to make a business before realizing how hard it may be. These are a few of the good and bad things about being a small business owner. 

The Good:

1. Impacting your Community -

Being a small business owner allows you to give back to the community that keeps your shop open. The biggest way to impact your community is by sponsoring local events. Sponsoring local events lets you help those in need or help give the community a fun event.

2. You are the boss -

Being the boss is great as you are in charge of everything. This is a heavier burden then working for a company, but it allows you to do what you want with your company. 

3. More Freedom -

Owning your own small business allows you the freedom of when you want to work. Your hours can be more flexible, but if you want to grow your company more hours is never a bad thing.

The Bad: 

1. Financial Risk -

Starting a company does not guarantee that you are going to make money right away. Sometimes it takes time in order to make a profitable company and some companies may never become profitable. 

2. Possibility of long working hours -

When you first start your small business you may have to put in a lot of extra hours and work in order to make your company as good as possible. This may not necessarily be a bad thing, but if you were looking for lower hours it may take a while. 

3. Lack of Knowledge -

If this is your first time starting a business it may be hard to make the right decisions and know when and how to spend your money efficiently. Some people get a mentor that has been through the process in order to make better decisions.