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
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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
In my work with entrepreneurs over the years, I have found that, although they do not necessarily become rich, they do become happier, more self-confident and more self-reliant. Very few entrepreneurs would ever go back to a salaried job. Even though they don't make an enormous amount of money, they love the freedom so much that they could not imagine turning their destiny over to anyone else.
Owning your own business is just about every person dream. To be one’s own boss and have the control, to make the money, the have the power, but to be able to make a positive impact one not only the community but individuals is a great way to be a truly successful businessman. To know that you have helped your employees to succeed and to make a great impact in them a person that is the kind of boss I want to be.
Some key contributions of small business in the U.S. economy is that they create new jobs, create new innovations at twice the rate of their big business counterparts, and they tend to find more opportunities than big companies.
The free books, distributed through boutiques, doctors’ offices, antique shops, art galleries, and realtors, are updated every year. Each city’s guide is different, of course, but a typical example would include special restaurants, clothing boutiques, kitchen renovators, interior designers, realtors, artists, salons, home builders, wealth managers, doctors, garden designers, photographers, caterers, and maybe a private school or preschool. So many small businesses are owned by women—the latest figures show that women own 30 percent of all enterprises, a number that is increasing at a rate 1 ½ times the national average—that it is no surprise to find many of the businesses featured are female-owned.
Women especially being entrepreneurs is interesting because they suffer the most from Corporate America’s discriminative policies. Some may say that there is no wage gap and that inequality in business isn't a problem anymore, however even though there has been considerable progress in the rights of employees, wages, and policies there is still great improvement to be made for majorities and minorities both. Women entrepreneurs alone since 2007 have created 340,000 jobs in America’s economy. That amount of growth provides stability for an economy and allows diversified business. Increasing the number of businesses in America also increases the amount of business competitive meaning that the more businesses there are the more likely they are to compete with each other thus sparking lower prices, fair employment policies and benefits, and more drive in business big and small. people should educate themselves on business management and develop themselves as entrepreneurs to benefit not only them but their society and economy as a
As executives or business owners, women tend to run their businesses differently than men. Almost every sixty seconds a women is starting her own business. As of today there are over nine million women that own their own business nationwide. Women own half of the businesses in the United States of America out of those 9 million women my mother; Lakesha Miller has owned multiple businesses. I interviewed my mother on November 19, 2016 at Olive Garden in Huntsville, Alabama. She is currently the chief executive officer of Tritel Customer Services and Answering Source. She is one of the outstanding women who have started, built, inherited, partnered, or have entered business ownership.
As we shift, focusing on gender equity in the business community a quote from antiracist, educator, and author Tim Wise,“we (referring to white man) have to take some responsibility for the unearned advantage, which mean working to change the society which bestow the advantage” (Wise, 2013). Through an evaluation of a catalyst study, only 12 women in the United States have been inaugurated to the corporate boardroom. According to the Organization for Economic Co-operation and Development (OECD) stated, “women are the most underutilized economic asset in the world’s economy” (Ledbetter, 2014). Perhaps, the process for a gender equality movement is slowly moving.
A small business advisor consultation is very helpful for new businesses. Small business advisors help entrepreneurs to reduce risks and waste while increasing savings and efficiency. Small business advisors usually have personal experience operating a company and handling various business functions like marketing, accounting, human resources and legal compliance.
In corporate America women have also became essential. In the recent years there are more women in the workforce than ever. According to the catalyst in the United States “Women's Growing Labor Force Participation Peaked in 1999 at 60.0%. Women share of the total labor force is 46.8%. 56.7% of all women 16 years and over are in the labor force, compared to 69.1% of all men.” (The
Starting a business is the latest trend. Just take a look at Instagram. Several profiles have the caption ‘Entrepreneur’. At this very moment, there is someone, somewhere working on an idea, a business plan or launching a startup. Entrepreneurship is on the rise like never before. The flexibility and independence that comes with being one’s own boss is attractive and worth taking the leap in starting a business. However, most people don’t know that being an entrepreneur is a grueling journey that can be very lonely and stressful at times. According to the Small Business Administration (SBA), 50% of businesses fail during the first year. Starting a business can be a scary task, but the
Another reason why I decided to become an entrepreneur is because I have seen so many people live out their dreams and find the gratification I dreamed of. While working for Sam 's Club I had an inside look at small business owners manage their business. I have encountered countless entrepreneurs find ways to reinvent themselves and provide a services and or products that continuously make their business relevant.
At the start of the twentieth century, the idea of women in business seemed crazy. In those days, men held all the positions of power and made all the decisions about money. They believed that a woman’s place was in the home, looking after her children, cooking for her family and managing the house. If a woman needed to work she could perhaps find a job in a shop or in a factory, but she had no chance of working as a businesswoman or a banker or a lawyer.
“This is the time for opportunity.” commented Elizabeth Gore, the entrepreneur in residence at Dell. “Women in all areas of business have such great potential to succeed, so why aren’t they?”
The organization tries to develop rival identical products to attract more customers for their products. For this reason, Julie Deane looks for new manufacturers who are actually desire to further their growth in the business. However, Julie didn’t want to take chances. She set a factory by herself which actually manufacture almost half of its totally produced bags (Guidry, M., 2011).