Essay Entrepreneurship

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Describe the term Entrepreneurship and the challenges of starting a small business Entrepreneurship is the dream of a lifetime for most individuals. The idea of being in control on one's financial future by establishing, owning, and operating their own business has driven most individuals in the direction of Sole Proprietorships. Most plunge in looking at the advantage and over looking the disadvantage and challenges of Sole Proprietorships. This first challenge that one might face on the road to Entrepreneurship is raising the necessary funds to finance their business. Financial resources are more limited for sole proprietorships because they are view as a high risk. Sole Proprietorships have few legal requirements and doesn't cost…show more content…
Being a part of a franchise you may have easy access to financial assistance to cover start-up cost. With all the advantage that Franchising brings there are a few disadvantages. The franchiser gives up a lot of control over operation and has less control over its franchisees. b) Most Business merge to form a large company, to acquire products and services they may not have or to bridge the gap in the business cycle. In a horizontal merger companies that product the same product merge to form a larger company. This gives each company the opportunity to learn new ideas on operation and production of a product this will help to restructure a company and allows it to reach new cover new areas. Another form of merger is a vertical merger. In a vertical merger a company merger with another company to acquire resources the may not have. This allows a company to focus in a particular area and extend responsibilities to another company concentrated in a particular area. A conglomerate merger gives company the opportunity to extend their business and respond to changes in the business cycle. A conglomerate merger is great for companies who manufacture and distribute product that are seasonal. c) The idea of being in control on one's financial future by establishing, owning, and operating their own business has driven most individuals in the direction of sole proprietorship. Becoming an entrepreneur is a grate way to start up and operation with little risk of

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