3-1 Copyright © 2013 Pearson Education, Inc. publishing as Prentice Hall Chapter 3 Entrepreneurship, New Ventures, and Business Ownership

3-2 Copyright © 2013 Pearson Education, Inc. publishing as Prentice Hall Learning Objectives After reading this chapter, you should be able to: Define small business, discuss its importance to the U.S. economy, and explain popular areas of small business. Explain entrepreneurship and describe some key characteristics of entrepreneurial personalities and activities. Describe the business plan and the start-up decisions made by small businesses and identify sources of financial aid available to such enterprises.

3-3 Copyright © 2013 Pearson Education, Inc. publishing as Prentice Hall Learning Objectives After reading this chapter, you should be able to: Discuss the trends in small business start-ups and identify the main reasons for success and failure among small businesses. Explain sole proprietorships, partnerships, and cooperatives and discuss the advantages and disadvantages of each. Describe corporations, discuss their advantages and disadvantages, and identify different kinds of corporations; explain the basic issues involved in managing a corporation and discuss special issues related to corporate ownership.

3-4 Copyright © 2013 Pearson Education, Inc. publishing as Prentice Hall What Is a “Small” Business?

3-5 Copyright © 2013 Pearson Education, Inc. publishing as Prentice Hall The Importance of Small Business in the U.S. Economy

3-6 Copyright © 2013 Pearson Education, Inc. publishing as Prentice Hall Popular Areas of Small-Business Enterprise

3-7 Copyright © 2013 Pearson Education, Inc. publishing as Prentice Hall Entrepreneurship

3-8 Copyright © 2013 Pearson Education, Inc. publishing as Prentice Hall Entrepreneurial Characteristics

3-9 Copyright © 2013 Pearson Education, Inc. publishing as Prentice Hall Starting and Operating a New Business

3-10 Copyright © 2013 Pearson Education, Inc. publishing as Prentice Hall Crafting a Business Plan

3-11 Copyright © 2013 Pearson Education, Inc. publishing as Prentice Hall Starting the Small Business

3-12 Copyright © 2013 Pearson Education, Inc. publishing as Prentice Hall Financing the Small Business

3-13 Copyright © 2013 Pearson Education, Inc. publishing as Prentice Hall Trends, Successes, and Failures in New Ventures

3-14 Copyright © 2013 Pearson Education, Inc. publishing as Prentice Hall Trends in Small-Business Start-Ups

3-15 Copyright © 2013 Pearson Education, Inc. publishing as Prentice Hall Reasons for Failure

3-16 Copyright © 2013 Pearson Education, Inc. publishing as Prentice Hall Reasons for Success

3-17 Copyright © 2013 Pearson Education, Inc. publishing as Prentice Hall Noncorporate Business Ownership

3-18 Copyright © 2013 Pearson Education, Inc. publishing as Prentice Hall Sole Proprietorships

3-19 Copyright © 2013 Pearson Education, Inc. publishing as Prentice Hall Partnerships

3-20 Copyright © 2013 Pearson Education, Inc. publishing as Prentice Hall Cooperatives

3-21 Copyright © 2013 Pearson Education, Inc. publishing as Prentice Hall Corporations

3-22 Copyright © 2013 Pearson Education, Inc. publishing as Prentice Hall The Corporate Entity

3-23 Copyright © 2013 Pearson Education, Inc. publishing as Prentice Hall Types of Corporations

3-24 Copyright © 2013 Pearson Education, Inc. publishing as Prentice Hall Managing a Corporation

3-25 Copyright © 2013 Pearson Education, Inc. publishing as Prentice Hall Special Issues in Corporate Ownership

3-26 Copyright © 2013 Pearson Education, Inc. publishing as Prentice Hall Summary of Learning Objectives

3-27 Copyright © 2013 Pearson Education, Inc. publishing as Prentice Hall