Q:

What are some reasons people go into business?

A:

Quick Answer

A business not only offers a possible income source, but many entrepreneurs like the high risk-to-reward opportunity of going it alone. Freedom is another major motive. People may start a business to avoid the traditional path of getting a job with an employer and a manager.

Continue Reading
What are some reasons people go into business?
Credit: Hero Images Hero Images Getty Images

Full Answer

Closely related to freedom is schedule flexibility. While business owners may work more than a 40-hour week, they often have greater flexibility to balance work and family life. If an owner has a child's school event, for instance, it is possible to schedule another employee to operate the store or office during that time.

Learn more about Managing a Business
Sources:

Related Questions

  • Q:

    What challenges do social entrepreneurs face?

    A:

    Social entrepreneurs face a myriad of problems including lack of adequate funds and experience in running their businesses. The funding, cash flow management and hiring of qualified and passionate employees are among the common problems that stall most businesses.

    Full Answer >
    Filed Under:
  • Q:

    Who writes business plans?

    A:

    Typically, an entrepreneur writes a business plan before launching a new business venture; however, some entrepreneurs hire consultants to assist with or write the plan. The time to write a plan varies, though a company founder must often prepare one before reaching out to venture capitalists or banks for funding.

    Full Answer >
  • Q:

    What are some companies that provide financial help to women?

    A:

    The OPEN program from American Express provides help to women entrepreneurs, and Wells Fargo's Women's Business Services program supplies research, education, advice and resources to help women manage business and personal finances, according to Forbes. The Bill & Melinda Gates Foundation offers help to poor women, including digital financial services.

    Full Answer >
    Filed Under:
  • Q:

    Why do managers plan?

    A:

    Business managers plan for several reasons, including to mark progress and achievements made along the way, to motivate themselves and employees to reach goals and to monitor financial status. Planning is essential for business managers in small companies as well as large corporations. For business managers, plans essentially act as road maps to help guide them and their organizations.

    Full Answer >
    Filed Under:

Explore