Jan 06, 2016
The Nature of Entrepreneurship
and Small Business
Entrepreneurship : the process of creating and
managing a business to achieve desired
objectives
Small business : any independently owned and
operated business that is not dominant in its
competitive area and does not employ more than
500 people
The Role of Small Business in the
American Economy
Job Creation
Innovation
Industries That Attract Small Business
Retailing and Wholesaling
Services
Manufacturing
High Technology
Advantages of Small-Business
Ownership
Independence
Costs
Flexibility
Focus
Reputation
Disadvantages of Small-Business
Ownership
High Stress Level
High Failure Rate :
Undercapitalization
Managerial Inexperience or Incompetence
Inability to Cope with Growth
Starting a Small Business
The Business Plan
Forms of Business Ownership
Financial Resources :
Equity Financing
Debt Financing
The Future for Small Business
Demographic Trends
Technological and Economic Trends
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