ECONOMICS
ENTREPRENEURS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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You have control over where and when you work
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During the startup phase, you do not have to think about funding
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Either A or B
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None of the above
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Detailed explanation-1: -Independence. As a business owner, you’re your own boss. You can’t get fired. More importantly, you have the freedom to make the decisions that are crucial to your own business success.
Detailed explanation-2: -The most common reason people launch their own business is to be their own boss. Other benefits include flexibility, financial rewards, the opportunity to innovate, and a chance to impact your community.
Detailed explanation-3: -Managing your own business typically allows you much more control over your work than when working for an employer. Business operators usually make all critical decisions that affect the business, including those related to basic operations, purchasing, marketing, sales and customer service and employee management.
Detailed explanation-4: -Advantage: Financial Rewards. Advantage: Lifestyle Independence. Advantage: Personal Satisfaction and Growth. Disadvantage: Financial Risk. Disadvantage: Stress and Health Issues. Disadvantage: Time Commitment. Try a Side Hustle.
Detailed explanation-5: -Initial costs and activities have already been completed. Premises may be fitted out and tested. Legal structure may have already been established. Licences and registrations may be in place. Branding may be in place. 10-Oct-2022