Entrepreneurship

"Fail often so you can succeed sooner."

What is Entrepreneurship?

Entrepreneurship is the process of starting, organizing, managing, and assuming the responsibility for a business. Being an entrepreneur means that you have to take a risk in order to start your own business.

Famous Entrepreneurs

What It Takes

  • Understanding of business operations & management
  • Confidence & capability to turn an idea into a business
  • Personal Traits: inquisitive, creative, competitive
  • Characteristics: problem-solving skills, strong integrity, willingness to work hard

Entrepreneur Data

  • 1 in 10 of Americans ages 18-64 is involved in some type of entrepreneurship activity.
  • Most of the money needed to start a business comes from the entrepreneur's family and friends
  • More than $100 billion is invested by family and friends for new businesses
  • Businesses with one owner and no staff account for $600 billion in yearly sales

Steps To Start A Business

  1. Write a business plan
  2. Receive business assistance & training
  3. Choose location for business
  4. Finance your business
  5. Determine legal structure of business
  6. Register business name
  7. Get tax identification number
  8. Register for state and local tax
  9. Obtain licences and permits for business
  10. Understand employer responsibilities
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By: Isaac R.