Advantages and Disadvantages of Business Ownership and Starting a Business

Starting a Business

LEARNING OBJECTIVES

1. Explain what it takes to start a business.
2. Evaluate the advantages and disadvantages of several small business ownership options - starting a business from scratch, buying an existing business, and obtaining a franchise.

Starting a business takes talent, determination, hard work, and persistence. It also requires a lot of research and planning. Before starting your business, you should appraise your strengths and weaknesses and assess your personal goals to determine whether business ownership is for you.