{"id":808,"date":"2016-11-30T09:34:13","date_gmt":"2016-11-30T09:34:13","guid":{"rendered":"https:\/\/www.getsmarter.com\/blog\/?p=808"},"modified":"2021-07-20T14:37:30","modified_gmt":"2021-07-20T12:37:30","slug":"risks-involved-starting-business","status":"publish","type":"post","link":"https:\/\/www.getsmarter.com\/blog\/risks-involved-starting-business\/","title":{"rendered":"What risks are involved in starting a business? | FAQs"},"content":{"rendered":"<p>Are you\u00a0thinking of starting a business but worried about the risks involved?<\/p>\n<p>In this 1 minute video Gareth Cotten, Head Tutor for the University of Cape Town <a href=\"https:\/\/www.getsmarter.com\/courses\/za\/uct-starting-a-small-business-short-course\" target=\"_blank\" rel=\"noopener\">Small Business: Growth and Management online short course<\/a>, elucidates on\u00a0the risks you might face when you start a\u00a0business and suggests how to avoid them.<\/p>\n<div style=\"text-align: center;\">\n<p><iframe loading=\"lazy\" src=\"https:\/\/www.youtube.com\/embed\/pz-gSH39eaE\" width=\"1100\" height=\"600\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p style=\"text-align: left;\">The risks you face when starting a business can be grouped into two types: financial and time-related risks. To evade financial risks, you could start a business that doesn&#8217;t involve a lot of start-up capital. However, if a business doesn&#8217;t require a lot of capital it could require a lot of care, and vice versa.<\/p>\n<p style=\"text-align: left;\">Develop the confidence and strategic expertise to successfully grow your small business with this online short course.<\/p>\n<p style=\"text-align: left;\"><div class=\"related-programme-block\">\n<div class=\"related-programme\" onclick=\"window.open('https:\/\/www.getsmarter.com\/products\/uct-small-business-growth-and-management-online-short-course', '_blank')\">\n    <div class=\"row\">\n        <div class=\"col-12 col-md-11\">\n            <div class=\"related-programme__school-logo-container\">\n            <a href=\"https:\/\/www.getsmarter.com\/universities\/university-of-cape-town\" target=\"_blank\" class=\"related-programme__school-logo-link\">\n                <img decoding=\"async\" src=\"https:\/\/www.getsmarter.com\/blog\/wp-content\/uploads\/2018\/09\/UCT_logo.png\" alt=\"School Logo\" class=\"related-programme__school-logo\">\n            <\/a>\n            <\/div>\n            <div class=\"related-programme__copy\">\n            <a href=\"https:\/\/www.getsmarter.com\/universities\/university-of-cape-town\" target=\"_blank\" class=\"related-programme__school-name\">\n                University of Cape Town (UCT)            <\/a><br>\n            <a href=\"https:\/\/www.getsmarter.com\/products\/uct-small-business-growth-and-management-online-short-course\" target=\"_blank\" class=\"related-programme__programme-name\">\n                Small Business: Growth and Management online short course            <\/a>\n            <\/div>\n        <\/div>\n        <div class=\"col-md-1 related-programme__chevron-column\">\n            <div class=\"related-programme__icon-container\">\n                <img decoding=\"async\" class=\"add-btn\" src=\"https:\/\/www.getsmarter.com\/blog\/wp-content\/themes\/blog\/assets\/icn_arrow-circle_right.svg\" alt=\"Read More Icon\">\n            <\/div>\n        <\/div>\n    <\/div>\n<\/div>\n<\/div><\/p>\n<p style=\"text-align: left;\"><em style=\"text-align: left;\">Transcription<\/em><\/p>\n<p style=\"text-align: left;\"><em>The risk when starting a business are generally going to be two types of risks. The first type is going to be a financial risk, the other one is going to be a time risk. Some businesses require a lot of capital, they require a lot of start-up funds, others require very little or even nothing. So if you want to lower your risks, I would recommend starting a business that doesn\u2019t require a lot of capital up front. Having said that, if a business doesn\u2019t require a lot of capital it probably is going to need a lot of time and a lot of care. So there is a risk with any business that you can insert and use up a lot of your own free time. It can start to impact on your personal life as well and it might not work out, so that is the time risk of starting a business. Having said, one of the benefits of having a good business is that it can help you free up time. So once you have developed the business to a point where you can actually pay for your expenses and your lifestyle -you no longer have to be clocking in at given hours or be somewhere at a specific time &#8211; that business can actually help you free up time and give you more flexibility in your life.<\/em><\/p>\n<p style=\"text-align: left;\">\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Develop the skills and knowledge you need to start and manage a successful business.<\/p>\n","protected":false},"author":74,"featured_media":19893,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[122],"article-format":[],"class_list":["post-808","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-career-advice","tag-business-management"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>What risks are involved in starting a business? | FAQs - GetSmarter Blog<\/title>\n<meta name=\"description\" content=\"The risks you face when starting a new business can be grouped into two types: financial and time related risks. 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