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Small Business

Good Essays

Mid term 1. What are the benefits of owning a small business??
Surveys show that owners of small businesses believe they work harder, earn more money, and are happier than if they worked for a large company. Before launching any business venture, every potential entrepreneur should consider the benefits of owning a small business. * Opportunity to gain control over your own destiny:
Entrepreneurs cite controlling their own destinies as one of the benefits of owning their own businesses. Owning a business provides entrepreneurs the independence and the opportunity to achieve what is important to them. Entrepreneurs want to “call the shots” in their lives, and they use their businesses to bring this desire to life. A study by the …show more content…

Because members of this generation are responsible for 70 percent of all US business start-ups, “generation X” might be more appropriately called “generation E”. There is no slowdown in sight as generation Y ( the millenials), begins to flex its entrepreneurial muscles. The global entrepreneurship monitor reports that globally entrepreneurial activity is highest among people between the ages of 25 and 34, but those in the 18-to-24 age group are strong second. In the united states, a recent survey by junior achievement reports that 69 percent of teenagers say they hope to launch their own businesses. * Women entrepreneurs
Despite years of legislative effort, women still face discrimination in the workforce. However, small business has been a leader in offering women opportunities for economic expression through employment and entrepreneurship. Increasing numbers of women are discovering that the best way to break the “glass ceiling” that prevents them from rising to the top of many organizations is to start their own companies (fig 1.3). The freedom that owning their own companies gives them is one reason that women-owned businesses are growing at a rate that is nearly twice as fast as that of all private businesses. Many of them are in fields that traditionally have been male dominated.
Although the businesses women start tend to be smaller than those men start, their

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