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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 SBA 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.
Impact of Entrepreneurial companies: about 600,000 new companies are incorporated
every year. The SBA reports that small businesses employ more than 50% of the workforce
and generate more than half of the nations GDP.
Who are Entrepreneurs?? They are people that have a vision and want to achieve
something. They need tolerance for ambiguity, self confidence, desire to succeed and a
high energy level.
Starting an Entrepreneuial firm
To start off you need a new business idea. Coming up with the idea is the easy part. Then
