As with the other categories, businesses are very diversified and can range from owners buying a job just to maintain their existence, to highly profitable international businesses.
They can come in the form of:
- Wholly owned individual businesses
- Companies – large and small
- Joint venture agreements
Owning a business is a whole new ball game to working for a business. The buck stops with you – so if your staff are sick or suppliers don’t deliver or customers don’t come – guess what? It affects your weekly grocery bill! Not to mention having to know all about taxation, asset protection, insurance, GST, book-keeping, and the list goes on.
The purpose of this course is not to give you grounding in business fundamentals, but rather, to say here that business is just another form of investment, and depending on the style and nature of the business it can potentially be a passive income.
The risks associated with investing into businesses are considered significantly higher than that of other forms of investments, but with the right commitment to time and effort, the rewards can be worthwhile.
We always recommend that you seek professional advice as this blog is for general information only