Business Bondage

DEFINITION of 'Business Bondage'

A state of feeling inexorably intertwined or even imprisoned by your business. Business bondage is frequently experienced by new entrepreneurs and small-business owners. Many factors can contribute to this feeling:

• lack of experience
• financial stress (insufficient capital, late- or non-paying customers, high-interest credit, etc.)
• macroeconomic events (national economic issues, financial market fluctuations, etc.)
• inability to lead or delegate tasks
• inefficient or inadequate business systems
• lack of experienced help/staff
• increase in the competitive environment

BREAKING DOWN 'Business Bondage'

According to the Small Business Administration, business startups fail at a rate of roughly 50% within the first five years. In order to make a business succeed it requires enormous financial, emotional and physical commitment by the owner(s). The flip side of that commitment is the necessity to find life balance or else risk succeeding at work but paying too high a personal cost.

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