What are the advantages an disadvantages of using your own savings to start up a business? -

Most new businesses fail because mismanagement,lack of access to capital,etc. Your best bet would be acquiring a well established business in a stable,growing industry.

the advantage:nobody like to make a monthly payment to the bank, with debt free, all your earning from your business is your to keep after minus expenses on the business. All profit is yours. You could expand your business with the profits you made. the potential is huge.the disadvantage:the percentage of small business of failing is huge : the first three years : 50-80% of small business is failing. That is very huge, your saving could be gone with your business.