Owning and running a business is not easy job but can be very rewarding. Here are ten reasons to own a business. The reasons also show advantages of being a business owner.
Developing economies such as Ghana’s offer good business growth potentials, according to economics experts. I believe many young people should consider the challenge of starting a business and tryout their ideas.
Freedom & Flexibility — You are free to work as you please. No boss, no petty rules, no asking permission to be where you want to be anytime. You are free to make all the decisions that matter to your business and set your own goals. You can adapt quickly to new opportunity. You decide for whom to work, when to work and how to work.
Passion — You’ll be able to work in a field or area that you really enjoy. Your own organisation can reflect your personal taste and style.
Tryout your Ideas — You’ll have the chance to put your ideas into practice, something that may not be possible when you are someone else’s employee. You no longer have to feed ideas up the line for other’s to make the decision.
Work with people you choose — Being the boss means you get to hire the team you want and not be stuck with who the boss hires to work with you. In similar manner you choose the clients you want to work for or clients who meet your earning expectations.
Potential for Wealth — You have the chance to make a lot more money for yourself than you can make working for someone else. Your fees are closely liked to the effort you put into your work and the output you produce.
Financial Freedom — You’ll enjoy some deductible expenses before taxation, such as expenses on travel, telephone, house, insurance etc as the law may allow. But for employees the tax is withheld from their income at source.
Impact — If you desire to impact your community, industry or the whole world working for yourself enables to do that to a greater extent than you could as an employee.
Job Security — You’ll need not fear lay-offs when your business experiences difficult times or recession, or when things go wrong. You are the boss! Who can fire you? You only learn from your mistakes to grow your business.
Personal Satisfaction — You’ll have the personal satisfaction of creating and running a successful business.
Honour & Respect — Having a successful business could enable you earn respect and honour of your community or nation; and you could become famous in the whole world.
You can make it because many people like you have made it: UT Bank’s Prince Kofi Amoabeng; Sparrow Production’s Shirley Frempong-Manso; Ashesi’s Patrick Awuah; FC Perfumery’s Amey Obeng; MetroTV’s Talal Fatal, etc.
Start your business now!