Entrepreneurship, entrepreneur and small business.

Entrepreneurship – the process of initiating a business venture, organizing necessary resources, and assuming the associated risks and rewards.

Entrepreneur is a person who creates his own business or company in the face of risk and uncertainty His purpose is to achieve high profits and growth. Entrepreneur can be young people (30%), women (72%), minority (Chinese, Indian restaurant), immigrant, home-based entrepreneurs, family business (90%), copreneurs(couple that work together).

Small Business is an enterprise, which has a small number of employees, low volume of sales, small amount of assets and limited impact on the market.

21. Five types of small business owners Level 2

Idealists – people who like the idea of working on something that is new, creative, or personally meaningful.

Optimizers – people who get satisfaction of being business owners because it gives them power.

Hard workers – people who enjoy working long hours and want their business to grow larger and more profitable.

Sustainers – people who want to balance work and personal life and often don’t want the business grow too large, they like stability.

Idealists 24%

Optimizers 21%

Hard Workers 20%

Jugglers 20%

Sustainers 15%

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

Get personal satisfaction from being a business owner

High-energy people who enjoy handling every detail of their own business

Jugglers – high energy, high risk people who like the chance a small business gives them to handle everything themselves, they feel independent

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