I want to compete with my current employer. Is it moraly and ethically alright to do this.?

I want to start up a new business and compete with my current employer. I kind of feel bad. The reason I feel like I need to do this, is I have stopped growing with in the company. I have been with this company and all I Know is this business. Is it ethically and Morally ok to to this? Please give me some advise.