Everything will have its opposites, the same if you want to run a business. How can it be? Here you will know what are the advantages and disadvantages to run a small business to be considered. Not only that, you will be recommended what kind of businesses that will not let your budget thinning.
What is Small Business?
Small businesses are businesses in which all are based on small operations, for example, small capital, the small scale of work, and a small market. It usually consists of 50 workers or less and it includes retail or service.
Let’s start to read the advantages and disadvantages to run a small business below.
The Advantages
- You have the Freedom
Working for others seems to be frustrating and tiring if you do not really like the job or want to fulfill everyone’s expectations. Maybe you ever felt that your boss needs to know that you can do better if you can to, so it can stress you out about a lack of recognition from the people around you. But, if you have your own business, you will not encounter such things because you have control of everything. You can lead yourself with your brilliant and careful ideas. For some small businesses that is not really tied to the workers, they can decide when they need to take a vacation or leave the job right away if there is an urgent situation and it does not really impact the business. But, a wise owner will not waste their money like that and they must know when they need to leave the business to vacate for a while, so everything also needs careful consideration.
- Profit Gained
If you can run your business individually, then the percentage of gaining the profit is high because you do not have to think about the worker’s fees. It will be more beneficial rather than work for another person or company.
- Prestige
If you are successful, people will start to think about who was behind this. Or if you have a great idea, it does not close the possibility if there will be a company wants to make such a “contract” or “agreement” with you, but back again with your goal, you need to be consistent and master how to take the opportunity well.
The Disadvantages
After you read all of the above, then let’s continue to read the disadvantages in the advantages and disadvantages to run a small business
- Risk of Financial
Starting a small business may require to spend all of your savings or go to the debt to start. If the business does not go well, things will be hard for you, so the result is there is no income. It is indeed that your business needs time to grow up, but time keeps running and you do not have enough money to live on.
- Long Hours of Working
When you decide to have your own business, then oftentimes, you must be ready to work for seven days weekly. It is because your focus now is on the business and you need to commit to it.
- Stress
What is the result of the two above? You will get a lot of things to be thought. It will not make your life comfortable without a stable income. It is not yet the worker’s fees. What will you do if you cannot handle this? So, you must ready to start the business.
In order to reduce the risk, here are several small businesses that are profitable with low cost to start.
- Online Tutoring
Now, people will prefer to use an online way to get everything they want because of its convenience, diverse, and even free. Online tutoring is the best way for someone who does not has time or just wants to search for another way for studying that is budget-friendly.
- Conventional Tutoring
You can make your place becomes the place for you to teach. All you need is to prepare the tables, chairs, whiteboards, markers, room heater, air conditioner, or fan. It will cost you in the beginning, but most of them will last long.
- Party Planning
If you feel that you have potential in party planning, then why do not you consider selling your service? There are so many parties, such as a wedding, birthday, reunion, or a special day like Valentine, need a party planner to handle all of the things that will be needed in the party. So, take advantage of your ability becomes money.
Now you know what are the advantages and disadvantages to run a small business. Have you decided to run a small business yet?