Starting a Small Business has many advantages over starting a traditional large business. It is less stressful, easier to get financing, usually requires less start-up capital, and is much less costly to start. There are several reasons to start a small business, however, there are also several cons as well. So what are the pros and cons of starting a business? Starting a Small Business 101
open a new business is extremely important to the U.S. economic system. Small businesses are so incredibly important to the U.S. economic system because almost half of all U.S. companies are actually small businesses, and they employment about half of the total private workforce, creating jobs and sparking innovation. They are also responsible for 98 percent of our nation’s good-quality exports, which fuels the American economy every day.
The advantages to owning a small business are plentiful. For one thing, you are your own boss. If you hate your job you can start your own business with minimal worries. You have more power, more freedom, and it is very easy to start your own company. There are thousands of different types of small businesses from artisans to doctors and lawyers – starting one is simple.
There are also some downsides to owning a small business. The most common negative aspect of owning a small business is that many small business owners are not personally responsible for their companies’ productivity. Because they don’t have the direct involvement in their companies’ daily operations, they aren’t as familiar with how much work goes into the various aspects of running a company, and therefore they can’t adequately gauge whether or not their employees are satisfied with the work they’re doing. It is very easy for employees to feel burnt out and frustrated, which can affect the productivity of …Read More