{"id":374,"date":"2015-04-21T20:52:40","date_gmt":"2015-04-21T20:52:40","guid":{"rendered":"https:\/\/courses.candelalearning.com\/masterybusiness1xngcxmaster\/?post_type=chapter&#038;p=374"},"modified":"2024-05-03T15:32:10","modified_gmt":"2024-05-03T15:32:10","slug":"introduction-to-advantages-disadvantages-and-considerations","status":"publish","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/wm-introductiontobusiness\/chapter\/introduction-to-advantages-disadvantages-and-considerations\/","title":{"raw":"Introduction to Advantages, Disadvantages, and Considerations","rendered":"Introduction to Advantages, Disadvantages, and Considerations"},"content":{"raw":"<h2>What you\u2019ll learn to do: discuss\u00a0the advantages, disadvantages, and important considerations of starting a small business<\/h2>\r\nAs author and retired entrepreneur Carol Denbow writes in Are You Ready to Be Your Own Boss?, \u201cIf you want your new business to succeed, you must know why most businesses fail.\u201d New business survival statistics are grim. From 2005\u20132017, approximately 21% of new businesses failed in the first year. Roughly half of new business fail within four years. And only 33% of new businesses survive for 10 or more years. Why do you think that is? Denbow\u2019s next sentence provides a clue: \u201cMost people spend more time planning their vacations than they do their new businesses.\u201d In this section, we\u2019ll discuss the pros and cons of starting a small business, and, in particular, how to improve the odds of success.","rendered":"<h2>What you\u2019ll learn to do: discuss\u00a0the advantages, disadvantages, and important considerations of starting a small business<\/h2>\n<p>As author and retired entrepreneur Carol Denbow writes in Are You Ready to Be Your Own Boss?, \u201cIf you want your new business to succeed, you must know why most businesses fail.\u201d New business survival statistics are grim. From 2005\u20132017, approximately 21% of new businesses failed in the first year. Roughly half of new business fail within four years. And only 33% of new businesses survive for 10 or more years. Why do you think that is? Denbow\u2019s next sentence provides a clue: \u201cMost people spend more time planning their vacations than they do their new businesses.\u201d In this section, we\u2019ll discuss the pros and cons of starting a small business, and, in particular, how to improve the odds of success.<\/p>\n\n\t\t\t <section class=\"citations-section\" role=\"contentinfo\">\n\t\t\t <h3>Candela Citations<\/h3>\n\t\t\t\t\t <div>\n\t\t\t\t\t\t <div id=\"citation-list-374\">\n\t\t\t\t\t\t\t <div class=\"licensing\"><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Original<\/div><ul class=\"citation-list\"><li>Introduction to Advantages, Disadvantages, and Considerations. <strong>Authored by<\/strong>: Nina Burokas. <strong>Provided by<\/strong>: Lumen Learning. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by\/4.0\/\">CC BY: Attribution<\/a><\/em><\/li><\/ul><\/div>\n\t\t\t\t\t\t <\/div>\n\t\t\t\t\t <\/div>\n\t\t\t <\/section>","protected":false},"author":78,"menu_order":10,"template":"","meta":{"_candela_citation":"[{\"type\":\"original\",\"description\":\"Introduction to Advantages, Disadvantages, and Considerations\",\"author\":\"Nina Burokas\",\"organization\":\"Lumen Learning\",\"url\":\"\",\"project\":\"\",\"license\":\"cc-by\",\"license_terms\":\"\"}]","CANDELA_OUTCOMES_GUID":"9aca5732-5ed4-4115-a727-60963d791d99","pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"class_list":["post-374","chapter","type-chapter","status-publish","hentry"],"part":87,"_links":{"self":[{"href":"https:\/\/courses.lumenlearning.com\/wm-introductiontobusiness\/wp-json\/pressbooks\/v2\/chapters\/374","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/courses.lumenlearning.com\/wm-introductiontobusiness\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/courses.lumenlearning.com\/wm-introductiontobusiness\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-introductiontobusiness\/wp-json\/wp\/v2\/users\/78"}],"version-history":[{"count":35,"href":"https:\/\/courses.lumenlearning.com\/wm-introductiontobusiness\/wp-json\/pressbooks\/v2\/chapters\/374\/revisions"}],"predecessor-version":[{"id":15331,"href":"https:\/\/courses.lumenlearning.com\/wm-introductiontobusiness\/wp-json\/pressbooks\/v2\/chapters\/374\/revisions\/15331"}],"part":[{"href":"https:\/\/courses.lumenlearning.com\/wm-introductiontobusiness\/wp-json\/pressbooks\/v2\/parts\/87"}],"metadata":[{"href":"https:\/\/courses.lumenlearning.com\/wm-introductiontobusiness\/wp-json\/pressbooks\/v2\/chapters\/374\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/courses.lumenlearning.com\/wm-introductiontobusiness\/wp-json\/wp\/v2\/media?parent=374"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-introductiontobusiness\/wp-json\/pressbooks\/v2\/chapter-type?post=374"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-introductiontobusiness\/wp-json\/wp\/v2\/contributor?post=374"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-introductiontobusiness\/wp-json\/wp\/v2\/license?post=374"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}