Why do people set up a business?

Jaiden Butch
Mind Map by Jaiden Butch, updated more than 1 year ago
Jaiden Butch
Created by Jaiden Butch over 5 years ago


This is a mind map covering the topic of, Why do people set up a business? for BTEC: Business Study's. (For revison)

Resource summary

Why do people set up a business?
  1. Why do people do set up a business?
    1. One of the reasons people set up a business might be because they don't want to work for someone else, they might be one of those people that just want to lead and not follow. This might be a good thing or it might be a bad thing.
      1. Another thing would be that they want to have a good income and maybe with the skills they might have it might not be possible to get that kind of income when you work for someone else
        1. Also they might want to experience what it would be like to be an owner of a business if they decide to carry on then they do but they might want to do it for a year or so then stop, they also may find it stressful and maybe wouldn't be a person to cope.
        2. What are the advantages of setting up a business?
          1. It can provide more income then a actual job, some people have had more success in creating their own business then working for one.
            1. If you don't like your job you can't really do much about it (unless you are a manager) but if you had your own business then you can adjust it to your liking.
              1. If you have a product that helps people then you can feel some pride for helping that person, so you can make yourself feel happy.
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