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The pros and cons of small business independence


What are the pros and cons of small business independence? There are many benefits to running a small business. However, there are also several cons that should be known. This is because, if a small business owner is aware of the pros and cons, they can be prepared for them.

Here is a list of those pros and cons.


Pros

Small business independence offers just that, independence. It is great to be able to decide what you will be doing with your life, and your business.

As a small business owner, you get to choose your working atmosphere. It can be in your home, a small office, or a large warehouse. This is all up to you. The business can be focused in the state you currently live in, or you can relocate to start the business in an area that the business would be more lucrative.

Creativity is another great pro when it comes to the independence of a small business. You will have all the options available to be as creative in your line of business as you want to be. You can design new products, add your pizzazz to the existing products or simply continue the same old with a little more spice.

Freedom to create your own schedule is all yours. If you want to work evenings and the business you are running allows it, go for it. The freedom to choose how many hours you want to work, business permitting is all up to you.

The profit made from the work of your business will be yours. After you have paid the bills, that money is yours to choose what to do with.

Marketing freedom is another great pro. You will get to choose how your customers will learn about the products and services you have to offer.

Cons

The responsibility of the business is all on you. As a small business owner, if something needs to get done, it is likely you who will have to do it.

The hours to create a small business can be long. Even though you have the independence to choose your hours, there may be work that makes those choices harder.

The money involved usually goes to creating better product, more marketing and the overall success of a business.

There is no insurance, retirement etc in most cases with a small business. With this in mind, you can find other options to go with, but they may be more expensive.

Gaining business is all up to you. If the business lacks the immediate customers needed to create a financial stability, there will be plenty of marketing you will have to complete in order to get business coming in.

Being the owner of a small business offers a great deal of independence. However, it also creates a great deal of responsibility and restrictions. In order for a small business to be successful, it will be important that the focus of success remains with the owner, or the company will likely fail.

This can be very hard, especially if you have invested your entire life into the small business. This is also difficult if you have employees relying on you to maintain their jobs, and paychecks.

These are the pros and cons of small business independence. Whether it fits the style of business and life you plan will now be up to you to decide. Keep in mind that many Americans are finding that the independence they receive from a small business is very well worth the cons.

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