Entrepreneur Advantages and Disadvantages

Advantages:

Better salary

As an entrepreneur, you can reap the benefits of all your hard work.  Being an entrepreneur means that you have the opportunity to earn more money. 

Flexibility

Being an entrepreneur allows you the flexibility of being able to decide on your own work schedule. As a result, you can work the schedule that suits you best.

Quick decision-making

Being an entrepreneur means that you have complete control. You can make decisions quickly and won’t have to go through any lengthy bureaucratic processes.

More control

As an entrepreneur you are likely to experience more job satisfaction, because you possess a higher degree of control.

Job Creation

You can make a difference in the economy by creating jobs through entrepreneurship

Disadvantages:

Salary

One of the disadvantages of entrepreneurship is that you may be leaving the security of a consistent paycheque behind. It may take a number of months before you get a constant cash flow, which will allow you to then draw a salary.

Long hours

It’s no secret that entrepreneurship isn’t easy. Entrepreneurs shouldn’t underestimate the long hours that will be sacrificed. You should also keep in mind that schedules are not predictable.

Stress

Being responsible for all decisions can be quite stressful. Being an entrepreneur isn’t a simple process and can be quite a high-stress job.

Risk

There is a lot of risk involved in being an entrepreneur. You need to be willing to take financial risks. The success or failure of the business rests with the entrepreneur. This means that there are no guarantees of success.

Time

You have to dedicate a lot of time to the business, which won’t always be easy. You need to be willing to make sacrifices.

Administration

Entrepreneurship may come with a lot of paperwork that can take up time and energy.