Entrepreneurship

By: Joy Ondrak

What Is An Entrepreneur?

An entrepreneur is someone who takes a risk in starting a business to earn a profit.

Characteristics of Entrepreneurs

-persistence

-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