Resolved Question

Would you say it was easier to run your own business or to complete a post graduate course.?

I would most like to hear from people who have had experience of doing both.

Best Answer - Chosen by Asker

I would imagine that running a business is far more stressful and complicated than completing a post graduate course. I spent eight years working with a local family in a dairy/retail business and they were always under a huge amount of pressure with bills and how to improve the business.. Being your own boss is not as simple as selling goods and keeping the cash that you make. You will be responsible for any staff that you may have, folk that you are buying from and, ultimately, the Taxman. If you do not keep proper accounts, you will be slaughtered for income tax, which is the main reason that many small businesses go under. In order to keep within the law, you will need to pay for a qualified accountant, and they are not cheap!!. It's a huge responsibility to ensure that your staff are paid in a timely fashion. Remember that these folk are relying on thier wages to feed thier families.. If you are not totally organised, they will lose out. In a "learning/studying" situation, nobody else is at risk.

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Other Answers (4)

• Completing a post graduate course is down to you and your level of commitment. If you don't do it, what have you lost other than any money you've invested in it?
  
  If you start a business, your investment is much greater. As has been said elsewhere, you usually involve other people in it, whether they're employees, customers or suppliers. If you fail, there's an impact on all of those and depending on how you've set up your business you risk losing everything. Even if you set up a limited company, which, in theory, limits your liability, you still stand to lose a lot.
  
  Running a business is not an easy option but it can be immensely rewarding. Studying isn't easy either but there's less risk attached to it.

  Source(s):

• I think in the long run you would be proud of yourself for completing a post graduate qualification and be able to work for a higher than average wage, your qualification would be recognised throughout the world. If you started a business and it failed you would have debts and regrets, if you completed the post grad you could still fail but have something to fall back on. There are a lot of business people who have never been to college etc who are successful.
• both are rule based and require money, so of equal merit...
  
  post graduate is usually the best for fun an personal partying, sadly you need stacks of money and need to make sure you don't run out before you gain your qualification. your reward is more knowlege in a chosen field that usually outdates within 4 years of learning it.
  
  business often fail within 3 years if incorrectly thought out or liquidity during any part of process. oviously you can gain money or tax relief and income from drawing based on original investment. recommend you don't go into service industry and keep yourself as far away from both your sales team and customers (some industries won't allow this).
  
  starting a business is the hard of the 2 as it involves an uncertain outcome. so chosing this route I'd recomend using at least 6 months or waiting and research of similar trade models.
• If your looking for the easy way out already then neither would be for you.