Advantages Of Entrepreneurship

Entrepreneurship
involves the development of a business around an innovative idea, with the aim of regional or
international growth. The entrepreneur in this case will need to find avenues to increase the
capital base in order to realize the objective. The entrepreneur is also charged with the
responsibility of protecting the idea through measures such as patents in order to capitalize on
the venture.

The advantages of entrepreneurship include:

The entrepreneur gets the chance to participate in a venture that they enjoy. This
increases the chances of success in the venture since the individual is passionate and dedicated
to work for the venture.

Entrepreneurship offers flexibility to the
entrepreneur allowing them to participate in family and social activities.

An
entrepreneur has the capacity to set a salary that they believe is commensurate to their input
and this helps improve the level of motivation to achieve more.

The
disadvantages of entrepreneurship include:

Entrepreneurship offers no
guarantees with regards to a regular paycheck especially when the business is at its formative
stage.

Schedules are highly unpredictable and the entrepreneur will be
required to respond to changes in the market or customer requests almost immediately. This may
at times force one to work longer hours.

href="http://source.southuniversity.edu/pros-and-cons-of-being-an-entrepreneur-96101.aspx">http://source.southuniversity.edu/pros-and-cons-of-being-...