It's Big Awesome Savings time
Need help choosing a plan?
Created with Sketch. 1800 917 771 Schedule a call
Need help?
We're here for you.
Schedule call
Created with Sketch.
Young entrepreneur smiling while seated at table with a coffee, writing in notepad while gazing out the window
Starting a business

The pros and cons of being an entrepreneur

Once university is done and dusted, the next challenge is landing a job. Entering the corporate world is a wonderful way to get real hands-on experience and put all your university training into action. However, after some time in the work force, you may decide that the life of an entrepreneur is more your style. Whether you want to start a side hustle, go freelance or launch your own business, there are several pros and cons to being an entrepreneur – let’s take a look.



There’s no denying that one of the best parts of being an entrepreneur is the complete freedom you have to do your own thing. No more bosses to report to, or managers peering over your shoulder – now you’ve gone from the bottom all the way to the top. You are the boss.


And with all that extra responsibility comes flexibility. Many people are excited to work for themselves because it means they can work when they want and where they want. Your commute could be as simple as walking to the couch or taking a stroll to the local coffee shop.


Many budding entrepreneurs value control. Getting your own venture off the ground requires heavy lifting but at the end of the day, it’s your dream and you are in control of making it happen. Having influence over the direction of the company is one of the most exciting parts of being an entrepreneur.


Instead of making others richer, now your profits can slide right into your own pocket. This means each business success becomes your success, and as your business grows, so does your potential income. This can be incredibly motivating for many new entrepreneurs on the path to success.

Young entrepreneur smiling while efficiently managing tasks with QuickBooks on laptop at office desk

Grow Your Business with QuickBooks



Not only is the future of your business in your hands but so is your next paycheck. Moving away from a salaried job to an unstable income is hard. There is great sacrifice that comes from starting your own business, and while the pay-off may be worth it, carrying the weight of responsibility can be difficult at first.


As the business owner, you will take on much of the risk associated with starting a new venture. This means, instead of your employer taking the fall, you’re often risking your savings, time and effort to get your business off the ground.


It takes serious hustle to get a new business up and running, and for the most part, you’ll be doing all the grunt work – especially in the early stages. All the heavy lifting can be hard for one person to manage. While it can be an exciting time, full of possibility, it can also be exhausting.


The idea of running your own business can be very different to the reality. From late nights to lonely weekends, being an entrepreneur is not without its challenges. You can also find it quite limiting in the early stages, without the funding of a big name or well-established business behind you.

For more ideas on becoming an entrepreneur, check out these resources.


Your new business toolkit

Learn all you need to know about starting a new business. Includes a business canvas to streamline your planning and get you set up for success. Plus, tools and templates to help you grow and scale.

Want more? Check out our small business blog for more guides for Australian small business.

By signing up you are agreeing to our terms and privacy policy.

A black and white photo of a person holding a snowboard.

Related Articles

Looking for something else?

Get QuickBooks

Smart features made for your business. We've got you covered.

Help Me Choose

Use our product selector to find the best accounting software for you.

QuickBooks Support

Get help with QuickBooks. Find articles, video tutorials, and more.

Stay up-to-date with the latest small business insights and trends!

Sign up for our quarterly newsletter and receive educational and interesting content straight to your inbox.

Want more? Visit our tools and templates!

By signing up you are agreeing to our terms and privacy policy.

A happy small business owner signing up for the QuickBooks newsletter on laptop