The benefits of having multiple business

[Enxx]

Having multiple business is a very good idea and has lots of benefits. One of the main reason why some rich men has many businesses is because they want to be more richer and believe that the more business they have the more the money they will make.
Apart from this, having a multiple business will help if a business is failing or is no more lucrative as before. So when this happens, the other business will continue.

 

[cherry123]

The first thing is that you would have different streams of income that would make you be more richer because they more business you have the more the money too.

 

[Hate2Wait]

It will help us have multiple sources of earnings so thereby helping us earn more

 

[IB D]

When you have more than one business, you are building income streams from different sources and this can guarantee you financial stability

 

[nomad]

Well, there are numerous benefits of having multiple businesses however, the main thing to consider is whether you can actually manage multiple businesses at the same time. It is really hard to do so.

 

[Shavkat]

The only thing that comes into my mind is they can give more profits in the owner's savings bank account. But then, it would be a big challenge in dealing them at the same time.

 

[eldavis]

Having multiple business simply means you are not relying on a single source of income, which i believe is actually the best. Relying on a single source of income limits you to a certain level in most cases.

 

[relcap23]

It's like laying eggs in different baskets. It's important though that business should complement like for example if you have a convenience store you must also have a refreshment parlor or a restaurant. You never have to stock on beverages because these are all sold in the convenience store, If you have a hospital or clinic you must have a pharmacy.

 

[kirubel]

Having more than one business helps our financial goal, and it will make us to get more than one income source, and also we can get some good stable profit, and even if we lose one business then we don't struggle on our life.

 

[cherry123]

Everyone should try to have Have multiple business so that one will not be relying on a single source of income, which is actually the best bet for every one life.

 

[HansonU99]

If you have multiple business you are very sure to make money compare to someone who had only one set of business if you operate two business when one seems to be down you can use the other one to aid yourself

 

[kirubel]

Everyone should try to have Have multiple business so that one will not be relying on a single source of income, which is actually the best bet for every one life.

Yeah, depending only on one income source job have a big risks, and if we lost that jo then there will be a problem on running our life, and being stable on financial, so having multiple business is good.

 

[eldavis]

Yeah, depending only on one income source job have a big risks, and if we lost that jo then there will be a problem on running our life, and being stable on financial, so having multiple business is good.

Very true, it is usually very risky relying on a single source of income. With the current economy you would be putting a lot of strain on just a single source of income. Having multiple sources is always and would always remain the best.

 

[kirubel]

Very true, it is usually very risky relying on a single source of income. With the current economy you would be putting a lot of strain on just a single source of income. Having multiple sources is always and would always remain the best.

Our families used to manage a big family with only one job, but now its very hard to manage a single life with only one job, the economy inflation makes things harder to work, so having more than one work is better.

 

[eldavis]

Our families used to manage a big family with only one job, but now its very hard to manage a single life with only one job, the economy inflation makes things harder to work, so having more than one work is better.

That's right, if not for the little earnings i am getting from most online gigs i do, what i earn from my graphic design business would have not been enough to sustain me. The expenses comes in more than the money. Even right now i am looking for other sources of income cause my online gigs and my small business is no longer enough to comfortably cover everything.

 

[kirubel]

That's right, if not for the little earnings i am getting from most online gigs i do, what i earn from my graphic design business would have not been enough to sustain me. The expenses comes in more than the money. Even right now i am looking for other sources of income cause my online gigs and my small business is no longer enough to comfortably cover everything.

Oh you are a graphics designer? men if you live in Europe of us you would get paid so much more than any one, its a best profession on thus countries. and yeah i also if i didn't earn some money from online it would be hard.

 

[AruneBend]

when you have multiple bussinesses it is easier to make money and you also have less risk of losing all your money because you have diffriend source of income

 

[Stardom22]

Multiple businesses is indeed very profitable and makes the people to rely on the multiple sources of income.

 

[King Belieal]

When you have more than one business, you would easily withstand fluctuations in business cycles because one business that is doing well can serve as a hedge.