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I cannot tell you every advantage or disadvantage to entrepreneurship but as a small business owner that just started up in early 2010, I can say that there are many advantages and disadvantages.
As a small business owner, I am the boss. I set my own work schedule. I choose my own [reasonable] salary. I also have the "advantage" of having myself as free labor in the sense that I can work on things and... even if I don't get "paid" for my physical investment or time investment into the company, I save money to invest elsewhere into the company for more important things that I cannot do myself.
Overall the main advantages I get are in that I get to use my own skills however I deem necessary or useful. I am not subject to one type of work within my company.
The disadvantages are much easier to notice when you first get into a business. The TIME that you have to invest into a business prevents you from being able to just sleep in on the weekend. It's hard to go on a vacation because there is work to be done. Sure, if you can afford it... and you can find a qualified person, you can have them fill in to do your work while you are gone, but the inability for many business owners to be able to relax while they are away from their business makes it impossible to really enjoy any type of vacation, weekend, day off, or even sometimes a night's sleep.
Also, a disadvantage for an entrepreneur in many aspects is that your accounting and your tax preparation are much more difficult than if you just work a standard job.
I am still employed at another business and have been for several years so I can say that I have seen the advantages and disadvantages from both sides of the spectrum. Basically, as a business owner, I am investing my time and money into the HOPE of a greater return in the future but at the cost of so much stress that it seems to age me faster than ever before. As an employee, I get to relax more often but I do not feel like I can get as far in life as I would have as a business owner.
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∙ 13y ago
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