Starting a business is a lot of hard work. Therefore persons who decide to start a business must be ready to dedicate a lot of time and energy to its start-up. It is also very costly and therefore capital will have to be identified to inject into a new business.
Reasons for starting a Business:
1. Financial Independence
Some persons feel restricted financially with the income received from their job. Starting a business would give them the opportunity to be a successful business person and achieve financial independence.
2. Being your own boss
You are able to make decisions about the direction and operation of the business.
3. To use your skills and knowledge for yourself
The skills, knowledge and experience that you have acquired can be put to work for you.
Owning and operating a successful business will give a feeling of accomplishment.
5. To create employment for relatives, friends and community members
Business can assist in providing jobs for persons in communities with high levels of unemployment.