Risk of going into business or entrepreneurship
Possibility of failure
There is always the possibility of failure – a single wrong business decision can bring a business to bankruptcy.
Unpredictable business conditions
A small business is vulnerable to sudden changes in the business environment. In a fast-paced industry, a small firm may not have the financial capability or the organizational capacity to respond adequately to new opportunities and their concomitant problems.
Long hours of work
A prospective entrepreneur must be ready to spend most if not all his waking hours in the business. Also, family time and personal affairs may be sacrificed.
Unwanted or unexpected responsibilities
The entrepreneur may eventually find himself saddled with management responsibilities he did not bargain for
Risk of going into Business
There is always the possibility of failure – a single wrong business decision can bring a business to bankruptcy.
Unpredictable business conditions
A small business is vulnerable to sudden changes in the business environment. In a fast-paced industry, a small firm may not have the financial capability or the organizational capacity to respond adequately to new opportunities and their concomitant problems.
Long hours of work
A prospective entrepreneur must be ready to spend most if not all his waking hours in the business. Also, family time and personal affairs may be sacrificed.
Unwanted or unexpected responsibilities
The entrepreneur may eventually find himself saddled with management responsibilities he did not bargain for
Risk of going into Business
Leave a Comment