The connection between entrepreneurship and small business.

2002 Words Aug 18th, 2003 9 Pages
This essay discusses the concepts of small business and entrepreneurship and relationship between them. We will try to define and explain the terms ?owner-manager? and entrepreneur, in other words who operate a small business enterprises. We also will examine the similarities and differences of these terms.

From the outset it needs to be emphasized that while we will talk about the small business and entrepreneurship, these terms need to be defined. For small business there is still no single definition which satisfies all purposes. There are several other definitions based on both quantitative, such as number of employees, invested capital and total value of sales, and qualitative characteristics, which was covered in Report of the
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Also the results define that the businesses were largely in the service sector (42%), followed by retail/wholesale (14%) and manufacturing at 9 %; the businesses had an average of 8.7 full-time employees and two-part-time employees, which is within the ?small? category New Zealand classifies its company by. However, an entrepreneur can of course own a large business, but for this sample, only four businesses employed more than 100 full-time staff. It is important to notice that the primary reasons for respondents, according to the survey, included a desire for independence, to make money, seeing an opportunity, job satisfaction, wanting a challenge, and the desire to be their own boss. Respondents were asked to describe their future goals for the business and they indicate that their goals were to grow the business (61%), to sell the business (13%), to survive or for business to remain stable (9%).

The chosen article shows the close connection between small business and entrepreneurship. Although, these terms have many common features, also they have the differences. Mainly, these differences based on motivation for business start-up and future goals.

The purpose here has been to present the connection between entrepreneurship and small business. We has defined these two terms, has provided brief overview on the origin and development of the term ?entrepreneur? and tried to explain the
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