Starting a business can be considered a bad idea if one lacks a clear plan, sufficient funding, or understanding of the market. High financial risk and the potential for significant personal and financial stress are major concerns. The time commitment can overshadow personal life, leading to work-life imbalance. Additionally, the failure rate for new businesses is high, with many not surviving past the first few years. Without proper research, planning, and resources, starting a business can lead to financial losses and impact personal well-being.
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Why might starting a business be considered a bad idea?
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- First step of starting a small business in Canada is a completed business plan.
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