What do you think are/would be the advantages and disadvantages of being your own boss?

[Sotherefore]

It is more of a greater advantage because you can organise your business and employe in people to work for you. Here you will not likely have to stress yourself with so many responsibilities. You are the one in control of your profits.

 

[Sincerem]

The only disadvantage is that you will be the only one to bears the risks of the business , but at the same time the advantage will be much than the disadvantage because if you can manage your business out , the success will definitely be something you will enjoy.

 

[Shigobad20201]

The only disadvantages I can see in being your own boss is that if the business I going through hardship and problem , you will have to bear it alone because you enjoy the riches alone.

 

[Robust]

The real and fact advantage of being your own Boss is that, you will be in charge to control and make decisions on how to improve your business while the disadvantage is that, you are the one to take the risk on everything you decide.

 

[tyrim88]

What do you think are/would be the advantages and disadvantages of being your own boss?

My thoughts are that you will be able to decide how you do things, how much time you want, and being able to make the decision on how you would expand what you do. Disadvantage, is the potential for funds being low, and low quality people working for you.

There are many advamtage that comes with one being his own boss,the flexibility the work will give you,as you will be able to work at your own pace.You have the luxury of experimenting on different things.But on the issue of funding and getting good and quality advice thatis one disadvantage.

 

[Chibson]

There are many advamtage that comes with one being his own boss,the flexibility the work will give you,as you will be able to work at your own pace.You have the luxury of experimenting on different things.But on the issue of funding and getting good and quality advice thatis one disadvantage.

becoming your own boss in business is one of the most important things you can do for yourself. You are not at the mercy of anyone to be paid a salary instead you will be the one in charge of paying people salary.

 

[tyrim88]

becoming your own boss in business is one of the most important things you can do for yourself. You are not at the mercy of anyone to be paid a salary instead you will be the one in charge of paying people salary.

sure the advantages are very much in place in this type of ownership structure,as the independent in taking decision and profit sharing is one benefit,but on the other hand,the issue of funding can be a set bac for one man.

 

[glitch]

The biggest advantage I would say is freedom and not having to answer to anyone.

The disadvantage is if something goes wrong, it is all on you!

 

[Chibson]

sure the advantages are very much in place in this type of ownership structure,as the independent in taking decision and profit sharing is one benefit,but on the other hand,the issue of funding can be a set bac for one man.

Yeah, funding is mainly the sure for so many business owners. but if there is a way people can be able to obtain loans in order to venture into businesses that kind of issue can be solved.

 

[Godspower]

Yeah, funding is mainly the sure for so many business owners. but if there is a way people can be able to obtain loans in order to venture into businesses that kind of issue can be solved.

Yes, funding is likely to be an obstacle or challenge if you're an entrepreneur. However, there are advantages too such as flexibility in decision making and taking all the profits alone.

 

[Good-Person]

I think that there are definitely more advanages than disadvantages when it comes to being your own boss. You tend to hire people rather than getting yourself hired by someone else.

 

[Chibson]

Yes, funding is likely to be an obstacle or challenge if you're an entrepreneur. However, there are advantages too such as flexibility in decision making and taking all the profits alone.

That is actually the truth. if you are able to fund a business by yourself you will probably be the one to take all the profit and take every decision in the business.

 

[tyrim88]

Yeah, funding is mainly the sure for so many business owners. but if there is a way people can be able to obtain loans in order to venture into businesses that kind of issue can be solved.

One thing about the issue of funding a business is that,not that getting a loan is a bad idea,because almost all big esterblisment usually go for loans to finance their business prospect,but the capacity to repay such loans is the issue most times.

 

[Chibson]

One thing about the issue of funding a business is that,not that getting a loan is a bad idea,because almost all big esterblisment usually go for loans to finance their business prospect,but the capacity to repay such loans is the issue most times.

That is the major issue. anybody who does not have proper plans of repaying a loan should not even try borrowing in the first place because it would leave you in the very bad debt. Those big businesses always have proper plans.

 

[Syldan]

Actually been your own boss has so many advantages that can not be stated out this is because all the income generated is your own to control after the payment of your staffs if there is.

 

[tyrim88]

That is the major issue. anybody who does not have proper plans of repaying a loan should not even try borrowing in the first place because it would leave you in the very bad debt. Those big businesses always have proper plans.

One of the things i have come to understand about the issue of loans by commercual banks and big esterblishment,is thatthey are always willing to give out money to those esterblished company with good and sound financial records.

That is the major issue. anybody who does not have proper plans of repaying a loan should not even try borrowing in the first place because it would leave you in the very bad debt. Those big businesses always have proper plans.

One of the things i have come to understand about the issue of loans by commercual banks and big esterblishment,is thatthey are always willing to give out money to those esterblished company with good and sound financial records.

 

[Danny4cash]

The advantage of being your own boss is that you be the decision maker. You decide you will do and how you'll do it. Also, it will you chance to work at your own time. You resume when you want and close when you want. The disadvantage is that it kills self discipline. If you're not discipline on how to get work early in the morning, it could affect you when you have your own business.

 

[Chibson]

One of the things i have come to understand about the issue of loans by commercual banks and big esterblishment,is thatthey are always willing to give out money to those esterblished company with good and sound financial records.

One of the things i have come to understand about the issue of loans by commercual banks and big esterblishment,is thatthey are always willing to give out money to those esterblished company with good and sound financial records.

Of course, that's just it. it will be very easy for them to obtain loans from different financial institutions including Banks. The level of collateral also matters.

 

[tyrim88]

Of course, that's just it. it will be very easy for them to obtain loans from different financial institutions including Banks. The level of collateral also matters.

That is definitelly one of the reason most busineses cannot even meet up with the condition,and one cannot blame the commercial banks,because most times they are not really convinced about the capacity of these firms yet.

 

[Chibson]

That is definitelly one of the reason most busineses cannot even meet up with the condition,and one cannot blame the commercial banks,because most times they are not really convinced about the capacity of these firms yet.

They need to understand that those banks are doing business and don't want to make any lose. So if they perceive that a particular business cannot be able to pay back loan they won't give.