What are the possible advantages for an individual in running their own business
(ie relative to being an employee in some
other business)? At the same time, what are the possible disadvantages in an individual running their own business (as opposed to being an employee in some other business)?
Advantages: satisfy the desire to be independent, be a vehicle to fulfill personal goals, vehicle for greater financial rewards, lifestyle and family benefits.
- Disadvantages: increased uncertainty and risk, greater possibility for financial loss, increased responsibility, higher levels of personal stress and negative lifestyle