Chapter 1

Slide 1
SMALL BUSINESSES DOMINATE
THE U.S. ECONOMY

100%
89.0%
90%
Percentage of all U.S. businesses

80%
70%
Fewer than 20 employees
60%
50% 0 to 499 employees
40%
30% More than 500 employees
20%
10.7%
10% 3.0%
0%
Number of employees
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ASSESS YOUR SUITABILITY Slide 2

FOR ENTREPRENEURSHIP

• Assess your interests

– Hobbies and interests
– Past experiences
• Assess your aptitude
• Assess the advantages of
entrepreneurship
• Assess the disadvantages of
entrepreneurship
 Chapter 1
ADVANTAGES OF Slide 3

ENTREPRENEURSHIP
• Entrepreneurs are their own bosses.
• Entrepreneurs can choose a business that
interests them.
• Entrepreneurs can be creative.
• Entrepreneurs can make lots of money.
 Chapter 1
DISADVANTAGES OF Slide 4

ENTREPRENEURSHIP
• Entrepreneurship is risky.
• Entrepreneurs face uncertain and irregular
incomes.
• Entrepreneurs work long hours.
• Entrepreneurs must make all decisions by
themselves.
 Chapter 1
INVESTIGATE Slide 5

OPPORTUNITIES
• Library
• Small Business Administration
• Trade shows
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COMPARE DIFFERENT Slide 6

OPPORTUNITIES
• Is there a market? Will people buy?
• How much money would it take? Will I be able to borrow
that much?
• How many hours a week are required? Am I willing to
commit that much time?
• What are the risks? What is the rate of business failure?
• Do I have the right background? Do others who own this
kind of business have more experience?
• How much money could I make?
 Chapter 1
Slide 7

SETTING GOALS
• Financial goals
– How much $ you will earn
– How quickly will you pay off debt
– Realistic and attainable
• Nonfinancial goals
– Personal satisfaction
– Serve community need
– Personal independence