Question

An essay on does owning your own business really make a better career. ​

Answer 1

Answer:

Owning Your Own Business There are many advantages and disadvantages when owning your own business.  When you own you own business, it’s known as a sole proprietorship.  But with any type of business, there will always be advantages and disadvantages.  

    Five advantages for owning your own business are: 1) The owner receives all profits, meaning that all earnings go to the sole proprietor, or the owner, and isn’t shared with anyone else.  The profit is not split among partners, or split among a corporation.  So when you own your own business, you’re the first and only one that receives all earnings and profit.  So if a person has a successful firm, he/she is the first to reap the success and rewards.  2) Another advantage.

All you need is money and a realistic vision.  4) Another advantage of a sole proprietorship is that you pay lower taxes.  This happens because as you own your own business, the earnings are considered as the owner’s personal income.  Because of this, the sole proprietor may be subject to lower taxes than other forms of businesses, such as a partnership or corporation.  5) In addition to all the other advantages listed, another advantage of owning your own business is that you, the owner determines how much you want your firm or company to grow.  You decide if you want to stay a small business or expand, whether it be locally or nationally.  This can be advantageous because the owner can determine whether it’s better to stay small or grow.  If you’re business is successful, you may want to expand to reach more and more clients, helping you make more money and to establish your firm as a successful one.  Or you might think that it might be better to stay small and local, because you might not want to take a chance because you might not want to mess with a good thing.  Whatever the situation, the owner decides what suites the company. But with advantages, there are also disadvantages of owning your own business.  Five disadvantages of a sole proprietorship are: 1) The owner is personally liable for all debts and incurs all losses.  The sole proprietor is responsible for all debts that the company owes.  The owner takes all losses.  

Explanation: