Time Investment Launching and running a business can be extremely time-consuming. Entrepreneurs often find themselves working long hours and sacrificing personal time to ensure the success of their venture.
Risk and Uncertainty One of the most significant costs is the inherent risk involved. There is always the possibility that the business may not succeed, leading to financial loss and emotional stress.
Opportunity Cost By choosing to start a business, you may be forgoing other career opportunities that could offer more immediate stability and benefits. This is known as the opportunity cost.
Physical and Emotional Stress The demands of running a business can take a toll on your physical and mental health. Stress, burnout, and health issues are common among entrepreneurs.