1. The Dynamic Role of a Small Business
Chapter 1

2. What did they start with?
Bill Gates
Sam Walton
Bill Rosenberg
Who are these people?
Fred Deluca
Richard Branson
Ray Kroc
Debbi Fields
What did they start with?

3. What is a Small Business and why is it important?

4. Reasons for increased interest in small business
Number of small businesses is ______________ rapidly
Every year about 750,000 people in the US start a business
Public ___________ small business
Increasing _____________ at high schools and universities
Growing trend toward ____________
Small business _________to all ages

5. Classification of Businesses by Size, According to SBA
VERY SMALL
Under 20 employees
MEDIUM
employees
SMALL
20-99
employees
LARGE
More than 500 employees
The IRS classifies 96% of American Businesses as small

6. Small Business vs. Entrepreneurial Ventures

7. Small Business
Established to further ______________and make a ___________
______________ owned and operated
not __________ in its field

8. Entrepreneurial Venture
___________are profitability and growth
objectives achieved through innovation and __________ management
____________ may eventually become an entrepreneurial venture

9. Contributions of Small Business
Maintain close __________ with customers and community
Keep larger firms ________________
Provide employees with _____________ learning experiences
Develop ___________________
Generate ___________________

10. PROBLEMS FACING SMALL BUSINESS
Lack of
Gov’t regulations (red tape)
Competition from companies
Management

11. Current Challenges to Entrepreneurs and Small Business Owners
Diversity in the workforce
Empowering employees
Work team performance
Exploding technology
Occupational and industry shifts
Global Challenges

12. Entrepreneur Characteristics
Confidence
Drive
Risk-taker
Competitive
Organized
OPTIMISTS

13. Entrepreneur ADVANTAGES Independence Satisfaction Financial Reward
Self-Esteem
DISADVANTAGES
Failure
Obstacles
Loneliness
Financially Insecure
Long Hours
Hard Work

14. SBA Small Business Administration
Helps to start, build
and grow businesses
Supplies aid, counseling, assistance
and protection to small businesses.