Introduction to Entrepreneurship Where Do We Start.

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Presentation transcript:

Introduction to Entrepreneurship Where Do We Start

Entrepreneurship Entrepreneur – a person who owns, operates and TAKES THE RISK of a business venture. Entrepreneurship – the process of running a business on your own.

Entrepreneurship Differences between entrepreneurs and employees EntrepreneursEmployees

Entrepreneurship 6 different types of businesses Manufacturing Wholesale Retailing Service Agricultural Mining

Entrepreneurship U.S. Small Business Administration 29.6 million businesses in U.S. 99.9% have fewer than 500 employees Only 18,000 businesses are considered large. Since 2000 – 21.9 million jobs created by small businesses Since 2000 – 1.8 million jobs created by large businesses

Entrepreneurship 67% of all small businesses survive at least 2 years 44% of all small businesses survive at least 4 years Reasons for success vs. failure Need for adequate capital Being large enough to have employees Owner’s education level & business experience Purchasing, planning, negotiating, raise capital, manage finances Reasons for starting business in the first place

Entrepreneurship Success Stories Starbucks Home Depot HARPO Productions