Starting a small business requires the consideration of some factors such as the size of the capital, personal characteristics, skills and experience requirement. In the same way, people start small businesses for several reasons such as inability to secure regular employment, desire to take environmental advantages, the pursuit of some goals and objectives, business inheritance, and different circumstances of life.
So many people prefer to be self-employed due to the benefits associated with self-employment while others prefer regular or salaried employment due to fear or challenges associated with self-employment and the advantages of salaried employment.
A small business is started in any of the three ways - starting a new business, buying over an existing business and inheriting a business.