Entrepreneurs and Ventures: Pros of Starting a Business Venture

Assignment #2: Option #2: Entrepreneurs and Ventures
Mary Beth Fitzpatrick-King
ORG305 – Entrepreneurship in the Global Age
Colorado State University – Global Campus
Professor Julie DuCharme
May30, 2017
Introduction
To begin a new business venture in the midst of the rapid changes in the business world is quite challenging. Most of the entrepreneurs are mainly concentrating on the obstacles that they do face when launching new ventures. Being able to overcome those challenges, the business will actually thrive. Both of the small and big businesses are quite critically important in the performance of the economy. More often than note, many people do find it quite difficult to draw distinction between entrepreneurial ventures and corporate and individual entrepreneurs. The main difference between these entrepreneurs is about their financial base and their scope of operations (Hallbäck, & Gabrielsson, 2013).
This essay examines pros and cons of starting a new venture, and why should one consider starting ventures.
Business Ventures
Business venture is basically defined as the process starting an entity with an intention of making profit. More often than note, business ventures have always been connected to the small businesses. Most of the ventures have always been invested into by the many individuals or better still groups with an intention of achieving financial gains. It is important to note that some of the business ventures are always created based on either demand in the market, or put in the other way due to lack of enough supply in the market. The first step that is involved in the starting up a business venture is by first finding out the products and services that consumers needs; thereafter, both of the entrepreneurs and the investors will then proceed and come up with an idea, rigorously market the idea developed, and then sell the service or product that has been developed. Starting a venture has got both pros and cons in the economy of the society and the country at large (Hallbäck & Gabrielsson, 2013).
Pros of Starting a Business Venture
There are numerous advantages for starting a business venture than the disadvantages. One of the major reasons an individual would consider starting a business venture is mainly to reap both individual benefits and also professional benefits. This is because by starting a new business venture, one is capable of determining his or her work environment, pace of work, and also hours for working. Beginning a business venture also enables an individual to pursue a career that he or she interested in and also it enables one to build on his career. The other advantage of starting up a business venture is due to the fact that it provides some of freedom to the owners to make decisions without consulting other many people. As compared to when one is employed by another individual, he or she will have to seek for permission from that person whom he or she is working for before making some decisions however good they might be. Despite the fact that, starting a business venture for the first time may seem to be a daunting task, there is potentiality of financial success. For the real entrepreneurs, the major goal and objective is to always c...