List the advantages and disadvantages of a Small Business:

Kindly check explanation

Explanation:

Small businesses may be defined based on various criteria ranginging from the size of running capital, number of employees and even customer base. What is obvious is that most small business require very little capital, limited number of employees and small market size. Small businesses offers the following advantages :

Financial liberty which affords it's doers the ability to cater for themselves or buttress on their initial EARNING.

INCREASED RESPONSIBILITY : Business owners take absolute charge of business decisions thereby broadening their scope and offering more independence and greater control.

Another advantages of having a small business is the fact that efforts and commitment put into the sustenance and growth of the business will be duly reaped by the owner. Rather than having to work for someone else to earn a greater portion of the return.

However, it also has its disadvantages which ranges from :

Exposure to financial risk arising from business collapse such that one has to deal with the burden alone.

The effort put in to keep business aloft may become overwhelming due to lack of adequate employees which may result in health impairment.

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