Entrepreneurship
By: Joy Ondrak
What Is An Entrepreneur?
Characteristics of Entrepreneurs
-competitiveness
-reliability
-strong integrity
-personal initiative
-independence
-goal oriented
-problem-solving skills
Entrepreneurship
-nearly one in ten of all Americans (ages from 18-64) are involved in some type of entrepreneurship
-more than 670,000 businesses are created annually
-one in five Americans have invested in a business of someone they know well
-new and small businesses produce a large amount of goods and services for the economy
Starting a Business?
Opportunities:
-the American private enterprise economy promotes new business development
-can create new or improved products
-new inventions could lead to new businesses
-you may sell your invention to another company for development and sale
Risks:
-low sales
- higher than expected expenses
-competitive pressure
-lack of adequate capital
-may be unprepared to manage a growing business
-taking more time than the owner will commit to