Managing Small Business Start-Ups - LULAC
Managing Small Business Start-Ups
Chapter 6
Starting a New Business
Since the 1970, the number of businesses in the U.S. economy has been growing faster than the labor force
The annual number of business launches continues to increase
Manager's Challenge: Intermedics Copyright ? 2005 by South-Western, a division of Thomson Learning. All rights reserved. 2
Entrepreneurship
Process of initiating a business venture
Organizing the necessary resources
Assumes associated risks and rewards
Copyright ? 2005 by South-Western, a division of Thomson Learning. All rights reserved. 3
Five types of Small Business Owners
Rewarded by chance to work on something new and creative
Thrive on the challenge of building a larger, more profitable business
Enjoy chance to balance work and personal life
Idealists 24%
Optimizers 21%
Hard Workers
20%
Jugglers 20%
Sustainers 15%
Get personal satisfaction from being a business owner
High energy people who enjoy handling every detail of their own business
SOURCE: Study conducted by Yankelovish Partners, reported in Mark Henricks, "The-Cast," Entrepreneur (March 2000), 14-16.
Copyright ? 2005 by South-Western, a division of Thomson Learning. All rights reserved. 4
Entrepreneurship and the Environment
Turbulence in the technology sector and the demise of many dot-com start-ups = heightened concerns about small companies competing against big business
Entrepreneurship and small business
? are vital, dynamic increasing important parts of U.S. economy
? are booming in other countries
Copyright ? 2005 by South-Western, a division of Thomson Learning. All rights reserved. 5
Why Small Business Today?
Economic changes Globalization
Increased competition Advancing technology New market niches
Copyright ? 2005 by South-Western, a division of Thomson Learning. All rights reserved. 6
Definition of Small Business
Definition used by SBA detailed and complex, Independently owned and operated Not dominant in its field of operation Number of employees, depending on the
industry Annual sales consideration, depending on the
industry
Copyright ? 2005 by South-Western, a division of Thomson Learning. All rights reserved. 7
General Types of Small Business
Most entrepreneurs start...
? Retail ? Manufacturing ? Service
Additional types
? Construction ? Communications ? Finance ? Real estate
Copyright ? 2005 by South-Western, a division of Thomson Learning. All rights reserved. 8
................
................
In order to avoid copyright disputes, this page is only a partial summary.
To fulfill the demand for quickly locating and searching documents.
It is intelligent file search solution for home and business.
Related searches
- small business start up cost worksheet
- small business start up costs examples
- government grants for small business start up
- free money for small business start up
- financing options for small business start up
- managing small business pdf
- small business start ups
- managing small business finances
- small business start up grants
- grants for small business start up
- managing small business employees
- managing small business ppt