Buss unit 1 Entrepreneurs

Created by: Holly
Created on: 13-05-13 14:45


	Buss unit 1 Entrepreneurs
	Advantages More control over working life and what kind of work is done. Need more flexible work schedule including being able work from close to home. Feel that skills are being wasted and that potential is not ebing fulfilled. Want to escape an unintresting job or career A desire to pursue and interest or hobby Fed up with being told what to do - they want to be the boss. the satisfaction of building a business. the rewards for the effort being put in. Fed up in the business hierarchy As a response to a shock in personal circumstances( redundancy, illness and bereavement.)	Disadvantages Face occasional loneliness and isolation. this is often the case for home-based start ups. Be unable to blame others when thing s go wrong - the buck stops with the entrepreneur Probably be under financial pressure- earning little or sometimes nothing as the business tries to establish its self. Have to work much harder than in a conversational job- average working of 70+ hours per week is common. This outs a great strain on family and social life. Probably suffer from higher stress levels. Have to rely on multi tasking rather than call on an established network of specialists ( available in a larger business.) usually have to work whilst sick and not her sick pay Experience a roller-coaster of emotion.
	Evaluation when setting up a new business was risk free then we will all do it . How ever the start up is very risky for entrepreneurs is that investing in a start up business. The main risks is that the business could fail. and the then they could lose their investment. In the case of a sole trader or partnership, the entrepreneur may also end up personally liable for the debts of the failed business. this could also leave the entrepreneur struggling to finance another business. but overall the the main rewards will be the financial gain.

Buss unit 1 Entrepreneurs

Advantages

More control over working life and what kind of work is done.
Need more flexible work schedule including being able work from close to home.
Feel that skills are being wasted and that potential is not ebing fulfilled.
Want to escape an unintresting job or career
A desire to pursue and interest or hobby
Fed up with being told what to do - they want to be the boss.
the satisfaction of building a business.
the rewards for the effort being put in.
Fed up in the business hierarchy
As a response to a shock in personal circumstances( redundancy, illness and bereavement.)

Disadvantages

Face occasional loneliness and isolation. this is often the case for home-based start ups.
Be unable to blame others when thing s go wrong - the buck stops with the entrepreneur
Probably be under financial pressure- earning little or sometimes nothing as the business tries to establish its self.
Have to work much harder than in a conversational job- average working of 70+ hours per week is common. This outs a great strain on family and social life.
Probably suffer from higher stress levels.
Have to rely on multi tasking rather than call on an established network of specialists ( available in a larger business.)
usually have to work whilst sick and not her sick pay
Experience a roller-coaster of emotion.

Evaluation

when setting up a new business was risk free then we will all do it . How ever the start up is very risky for entrepreneurs is that investing in a start up business. The main risks is that the business could fail. and the then they could lose their investment. In the case of a sole trader or partnership, the entrepreneur may also end up personally liable for the debts of the failed business. this could also leave the entrepreneur struggling to finance another business. but overall the the main rewards will be the financial gain.

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Buss unit 1 Entrepreneurs