It is important for people to take risks, both in their professional lives and their personal lives. Do you think the advantages of taking risks outweigh the disadvantages?

Presently, there has been a ubiquitous debate about how much risk one should take. Whilst some venturers hold the view that individuals should endeavour new opportunities, others have a diverse perspective.

However

, I am of the stance that the merits of taking risks exceed its demerits and in the following lines, the previously mentioned points will be thoroughly elaborated. To commence with, there is a window of opportunity that may be utilised by opportunists in less competitive markets. Whenever a new market emerges, there will be a plethora of chances to do business in it.

For instance

, when the United Arab Emirates gained its independence from the United Kingdom in 1971, international companies rushed to start their businesses in the newly-born state

due to

its enormous oil and gas reserves.

Thus

, what can be said is that the more risks one takes, the higher the monetary rewards will become.

Furthermore

, taking danger is an innate human behaviour and if your ancestors had not taken prospect, mankind would have dominated

this

planet.

In other words

, when a group of individuals jeopardise their savings and personal possessions, they end up discovering new areas with numerous benefits.

For example

, in 1492, Spanish merchants ventured into the unknown to cross the Atlantic Ocean, and they eventually found the new world.

Hence

, what can be inferred is that risk-taking not only does it have countless benefits monetarily, but it

also

helps humans progress. In conclusion,

after

this

essay has manifested the aforementioned points, it can be reiterated that taking risks is an inborn skill. In my opinion, entrepreneurs should take more perils provided that they are calculated, because the benefits of taking them surpass their drawbacks.