Advantages and Disadvantages of Business Ownership and Starting a Business
Completion requirements
Read these sections for more detail about starting a business and some of the advantages and disadvantages in store for small business owners.
Starting a Business
LEARNING OBJECTIVES
- Explain what it takes to start a business.
- 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.