There are many potential drawbacks to being an entrepreneur.
The harsh truth is that setting up a new business is a lot worse than many people imagine. In the odd, exceptional case, the start-up process runs according to plan and smoothly. Other entrepreneurs pretend that things are going well, when the reality is very different.
Running a business means that an entrepreneur will:
- Face occasional loneliness and isolation. This is often the case for home-based start-ups.
- Be unable to blame others when things go wrong – the buck stops with the entrepreneur
- Probably be under financial pressure – earning little or sometimes nothing as the business tries to establish itself. Entrepreneurs often find themselves unable to draw income or profits out of the business for several years
- Have to work much harder than in a conventional job – average working of 70+ hours per week is common. This puts a great strain on family and social life
- Probably suffer from higher stress levels (albeit, the stress is of a different kind to that suffered by people who are employed by others)
- 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 get sick pay.
- Experience a roller-coaster of emotions
Put simply, starting a new business is not for the faint-hearted!
FOR MORE REVISION SUPPORT FROM THE TUTOR2U TEAM...
Use the following class codes to join our Zondle revision classes:
Economics: AS Micro 290-66327 AS Macro 290-66328 A2 Micro 290-66329 A2 Macro 290-66330
AQA AS/A2 Business: BUSS1 290-66325 BUSS2 290-66326 BUSS3 290-66323 BUSS4 290-66322
The cameras went behind the scenes at one of tutor2u's exam coaching & revision workshops this summer...
Discover more about our intensive exam coaching & revision workshops desiged to prepare for exams in May & June 2015:
|PowerPoint Lesson Activities||Teacher Conferences & CPD Courses|
|Exam Coaching & Revision Workshops||Pre-release Case Study Toolkits|
|A Level Economics Teaching Support||Resources for Business Studies|