1. Entrepreneurship Bryson Doole, Greyson Butler, Chance Cates, Chris Condon

2. What is an entrepreneur? People who takes risks for business ventures. Entrepreneurship- act of starting your own business

3. Traits of Entrepreneurs 1.Must have a vision. Need a goal for company to follow. 2. Must have a true passion. Passion of leader inspires employees. 3. Must make good decisions. Support the well being of company.

4. Continued 4. Must be a solid team builder. Recognizes strengths/weaknesses of employees. 5. Must have personality. Necessary for selling your idea/product.

5. Small Business Advantages Independence from boards of directors. Close relations with customers/clients. Opportunities to expand/grow.

6. Small Business Disadvantages Extremely high failure rate. Smaller contact base. Less expertise.

7. Sole Proprietorship Advantages Make ALL business decisions. Get ALL the pay. Hire ALL the employees.

8. Sole Proprietorship Disadvantages All legal/tax consequences fall on your shoulders. Cannot take tax deductions for health or life insurance. Investors almost never help sole proprietorships. Taxed for personal, income, and business taxes since they represent their company

9. How to Start a Sole Proprietorship 1.Get an idea that you are willing to work hard for 2.Pick a name that represents your product and goals 3.Acquire proper licensing and permits for your business 4.Get a loan from a bank 5.Begin to advertise your product

10. Examples of Sole Proprietorships Kinko's Paul Orfelea launched his business and maintained a sole proprietorship through expansion. Annie's Homegrown Ann Whitey began this business to sell organic foods.

11. Examples of Sole Proprietorships Ebay Pierre Omidyar created this to help his girlfriend sell her collectables.

12. Entrepreneurial Statistics Approximately 34 million of fresh employment opportunities were created by entrepreneurs since 1980 http://goarticles.com/article/Importance-of- entrepreneurship/1036875http://goarticles.com/article/Importance-of- entrepreneurship/1036875

13. Entrepreneurial Statistics Almost 2/3 of all innovations are due to entrepreneurs. http://goarticles.com/article/Importance-of- entrepreneurship/1036875/ http://goarticles.com/article/Importance-of- entrepreneurship/1036875/

14. Entrepreneurial Statistics America is a nation where a strong entrepreneurial culture establishes favorable conditions that create approximately 600,000 new firms per year. http://www.mendeley.com/research/clusters- economic-development-outcomes-analysis- link-bteween-clusterings-industry-growth/ http://www.mendeley.com/research/clusters- economic-development-outcomes-analysis- link-bteween-clusterings-industry-growth/