We all dream of being our own boss from time to time but you have to think and evaluate if starting your own business is really right for you.

Advantages

• Starting your own business can be a lot of fun, especially since you get to do your own thing and see your business grow.
• If your business takes off, you can make a large amount of money than working in a regular job.
• Having your own business can give you a real sense of freedom and achievement that you wouldn’t be able to get anywhere else.

Disadvantages

• Running your own business can be risky as many businesses fail in their first year.
• It is financially risky as you could loose everything you have.
• Having to go back to a regular job can be hard.

Type of business

There are many types of business that you can start :

• Sole Trading / Sole Proprietorship
• Part – time
• Partnership
• Limited Company
• Cooperative
• Franchise