Good and Bad Sides of Small Business(es)

If you are about to start you're own retail business, any kind, it is important to know what are the advantages of having one, and what is more important it's disadvantages.

Advantages


AVAILABILITY


The most interesting part in small entrepreneurship is it is relatively available, by that I mean that it is luring to all layer of society, no matter what gender, school degree, financial condition and other similar stuff like that for potential entrepreneur. It is because a lot of market ideas and concepts(plans) can relatively easy be achieved  with even small amount of equity.

INNOVATION and MOTIVATION


Small entrepreneurs are a lot more creative and they easily understand i can act more quickly if market changes, unlike big companies. We often think that big companies are not affected, yes they are, in their measures. Small entrepreneurs have work habits, they work a lot longer than usual, harder, creatively and it is all followed with big enthusiasm, which is huge plus, because it is very important thing that makes us more motivated.

MARKET ADAPTABILITY

Small entrepreneurs can react more quickly and they can adjust their business according to sudden market changes, and with little or no problem focus on market needs, which involves problems like number of products, quality, place and prices and other. Imagine this like watching a race with a sedan car with weaker engine and SUV who is more powerful than the sedan car, SUV will probably win on a drag race, but when you need to take a sharp turn, SUV is logy, heavy and it 'suddenly' becomes slow, but ordinary limousine is more agile, it moves quicker when their is 'bumb' on the road. It's the same for big and small companies.

SELF-EMPLOYMENT


Small entrepreneurship is the best occasion  for self-employment people no matter what gender are you, also you are you're own boss which is no.1 factor why people often choose to create their own business.

Disadvantages

POSSIBILITY of FAILURE


When you are about to start you own business, their is a huge risk that you will probably fail at business, small entrepreneurs fail at much higher percentage than big companies. It is due to all the responsibilities rely on one man/woman who owns it, their capabilities, skills and their knowledge.

NO MONEY

While starting you're own business can be relatively easy, for some people it is not, what I mean by this, is people hardly find their way to capital money, or even if they have it enough they usually spend it on unnecessary stuff they don't need to, but they tough they do. It all makes the business very hard to handle, because it seems like you are only giving and investing but you are not getting anything back.

LACK of KNOWLEDGE 

Very few people think they can handle everything themselves, but I sure that almost 99.99% of newbie entrepreneurs think that they can handle everything what comes in their way, even the jobs they don't have a clue about. It is strictly advised to hire specialized people for specialized job, you simply have to let other people do their job to!