The Potential Drawbacks Of Entrepreneurship - 1404 Words

Introduction Introduction This paper scrutinises the extent to which already existing empirical evidence can systematically and collectively corroborate the claim that owning a business has many advantages but has an equal amount of drawbacks which prospective entrepreneurs should be aware of before deciding to own a business. The aim of this research is to depict the potential drawbacks of entrepreneurship. These drawbacks are rarely known or considered by individuals wanting to own a business (Kirby, 2003). They therefore blindly step into the world of entrepreneurship and suffer from the effects of these drawbacks which they did not know of or expect. Importance of this research This paper will be of great use and importance to those who want to own a business because it gives a holistic view of the world of entrepreneurship stating its advantages but also emphasizing on its drawbacks. Having full information about the blessing and curse of being an entrepreneur will make many prospective business owners reconsider their position in regards to owning a business (Scarborough, 2012). It will also psychologically prepare the persons who are determined to venture into the unpredictable adventure of entrepreneurship. Scope of the research Due to the word limit and scope of the research, this paper is not in any way showing a conclusive list of drawbacks but stating the major ones faced by most entrepreneurs in today’s business environment. Additional research must beShow MoreRelatedThe Potential Benefits Of Being An Entrepreneur1190 Words   |  5 PagesACCG 308 Week 1 Homework 1. What might be the potential benefits of being an entrepreneur for you personally? †¢ One of the major advantages of being an entrepreneur is the idea of having financial freedom. 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