Pros

• Independence: When you own your own business, you do not have to follow orders or observe working hours set by someone else.
• Satisfaction: Turning personal skills, hobbies, or other interests into your own business can be very satisfying.
• Financial reward: Through hard work, the sky can be the limit. Countless small businesses have grown into large companies that have produced fortunes for their owners.
• Self-esteem: Knowing you created something valuable can give you a strong sense of accomplishment, thus heightening your self-esteem.

Cons

• Business failure: Many small business fail. You risk not only loosing your money but also the money invested in your business by others.
• Obstacles: You will run into problems that you will have to solve by yourself. You may face discouragement from family and friends.
• Loneliness: It can be lonely and even a little scary to be completely responsible for the success or failure of your business.
• Financial insecurity: You are not guaranteed a set salary or any benefits.
• Long hours/ hard work: You will have to work long hours to get your business off the ground.