Entrepreneurship

Christopher VanDiver Due: September 3, 2010 Chapter 1 Section 1 succinct What is an entrepreneur? Entrepreneurs are batch who own, ope rank, and take the risk of a business venture. These persons who are entrepreneurs engaged in Entrepreneurship, which is the process of ravel a business of ones own. These people fix many difference types of business to provide service or products are unmet in the marketplace. Entrepreneurs differ then employees because entrepreneurs are instantly affected by the consequences of decisions employees make. There are four types of entrepreneurial businesses which are manufacturing businesses (produce the products they sell), wholesaling business (sell products to other businesses rather than the final consumer), retail businesses (sell products directly to those who use or consume them), and service businesses (sell operate rather than products). Other business areas are agricultural businesses (generate sweet-smelling farm products) and mining and extracting business (take resources from the ground to be consumed). Entrepreneurs acquire played an important role in the history of the Statess economy. According to the U.S. atrophied Business Administrations Office of Advocacy there were approximately 25.8 million businesses in the U.S. in 2005.

There are 5.8 million firms with employees and 18.6 million without. Small firms with fewer than 500 employees represent 99.9 portion of 25.8 million businesses. These weeny businesses generate billions of dollar the economy. Only 17,000 businesses are considered large. Two-thirds of new businesses sustain at least two years and 44 percent survive at least four years. Many people think that restaurants have a higher failure rate than other types of businesses and leisure and hospitality establishments survive at rate slightly below average. A major factor which founder succeed are owners business experience. produce businesspeople understand how to purchase products and... If you want to get a full essay, order it on our website: Orderessay

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