Do The Advantages Of Running A Business Outweigh The Disadvantages? | Band 8 IELTS Essay Sample
It is a common aspiration among people to run their own business, rather that work for an employer. Do you think the advantages outweigh disadvantages?
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Band 8 IELTS essay sample
It is commonly seen that people aspire to start and run their own business, instead of pursuing a job. In my opinion, the benefits of running a business far outweigh the problems associated with it.
Admittedly, there are some minor disadvantages to owning a business. Firstly, starting your own business generally requires an initial investment. For example, the owner of the business might need to invest in machineries and buildings to start a business. However, the problem is that everyone is not affluent enough to invest a large amount of money. Secondly, running a business always involves a certain amount of risk. There is no fixed monthly income from a business; it could even incur losses if it is not managed appropriately. In short, a business can be a burden if it is not managed and monitored properly.
Nevertheless, despite the disadvantages mentioned above, I believe there are a lot of significant advantages to owning a business. One of the obvious benefits is that the business owner has complete authority over any decision related to the business. For instance, a restaurant owner can take the decision to open a new branch to expand the business whenever required. In comparison, most of the employees working in a company do not have much say in the functioning of the company. Another advantage of owning is a business is that business owners can increase their revenues and profits manifold when the business grows. In other words, people can earn more by running a successful business. Finally, a successful business acts as a launch pad for the children from business families to start their career. Clearly, owning a business can be immensely beneficial for people.
In conclusion, while there are minor disadvantages to running a business, I believe the benefits are greater than the problems associated with it. In fact, the potential problems can be mitigated by taking appropriate measures and monitoring progress.