Karen quit her job as a marketing executive in a multinational company to start her own small business. She now runs a catering business with less than 25 employees. Which of the following statements is true of Karen's experience as the owner of a new small business?
1. Karen experiences lower stress levels compared to her previous job as she need not worry about changing market demands, competition, and so forth.
2. Karen has lesser autonomy and authority in the business compared to her previous job.
3. Karen does not have much use for her decision-making skills, which she was required to exhibit quite often in her previous job.
4. Karen has to multitask to manage the new business, which involves playing the role of an owner, manager, sales force, clerk, and bookkeeper.
5. Karen need not worry about her income and expenses as the failure rate for small businesses is extremely low.