Entrepreneurship is The process of initiating a business venture, organizing the necessary resources and assuming the associated risks and rewards.
Entrepreneurship as an option. For many years there was many worries surrounding the idea but recently there has been an outbreak of entrepreneurs making money and living a better quality of life. Women and minorities are now starting their own businesses more than men because they have been discriminated in the corporate world and decided to go out on their own.
Entrepreneurship and the environment-people used to be worried about small businesses surviving now there are about 23 million out there. Since our economy is rapidly changing it creates new opportunities for small business owners everyday. New technology has opened thousands of new opportunities and especially with the Internet making a small business available to thousands of people around the world.
Definition of a small business by the S
Planning- The primary goal of planning is to stay alive. In the early stage of existence it is basically non-existent.
To start off you need a new business idea. Coming up with the idea is the easy part. Then you need to develop a business plan. It is a specific plan detailing every aspect of your new business. It provides financial projections, target markets, risks associated with the business.
BA is typically a business with 500 or less people or it can depend on annual receipts or the number of employees in certain categories such as manufacturing, retail and services.
Financial Resources-two ways to finance the business is debt-financing or equity financing. Debt-financing is borrowing money that has to be paid back at a later date. Equity finacing is done with venture capitalists in which they become part owners of the company.
Getting help-there is assistance available form SCORE. They are all retired business executives which helps small busine