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The Dynamic Role of a Small Business. Chapter 1. Who are these people?. Bill Gates. Sam Walton. Bill Rosenberg. Fred Deluca. Richard Branson. Ray Kroc. Debbi Fields. What did they start with?. What is a Small Business and why is it important?.

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The dynamic role of a small business

The Dynamic Role of a Small Business

Chapter 1


Who are these people
Who are these people?

Bill Gates

Sam Walton

Bill Rosenberg

Fred Deluca

Richard Branson

Ray Kroc

Debbi Fields

What did they start with?


What is a small business and why is it important
What is a Small Businessand whyis it important?


Reasons for increased interest in small business
Reasons for increased interest in small business

  • Number of small businesses is ______________ rapidly

  • Every year about 750,000 people in the US start a business

  • Public ___________ small business

  • Increasing _____________ at high schools and universities

  • Growing trend toward ____________

  • Small business _________to all ages


Classification of businesses by size according to sba

VERY SMALL

Under 20 employees

MEDIUM

100-499

employees

SMALL

20-99

employees

LARGE

More than 500 employees

Classification of Businesses by Size, According to SBA

The IRS classifies 96% of American Businesses as small


Small business vs entrepreneurial ventures
Small Business vs. Entrepreneurial Ventures


Small business
Small Business

  • Established to further ______________and make a ___________

  • ______________ owned and operated

  • not __________ in its field


Entrepreneurial venture
Entrepreneurial Venture

  • ___________are profitability and growth

  • objectives achieved through innovation and __________ management

  • ____________ may eventually become an entrepreneurial venture


Contributions of small business
Contributions of Small Business

  • Maintain close __________ with customers and community

  • Keep larger firms ________________

  • Provide employees with _____________ learning experiences

  • Develop ___________________

  • Generate ___________________


Problems facing small business
PROBLEMS FACINGSMALL BUSINESS

  • Lack of

  • Gov’t regulations (red tape)

  • Competition from companies

  • Management


Current challenges to entrepreneurs and small business owners
Current Challenges to Entrepreneurs and Small Business Owners

  • Diversity in the workforce

  • Empowering employees

  • Work team performance

  • Exploding technology

  • Occupational and industry shifts

  • Global Challenges


Entrepreneur characteristics
Entrepreneur Characteristics Owners

  • Confidence

  • Drive

  • Risk-taker

  • Competitive

  • Organized

  • OPTIMISTS


Entrepreneur

ADVANTAGES Owners

Independence

Satisfaction

Financial Reward

Self-Esteem

DISADVANTAGES

Failure

Obstacles

Loneliness

Financially Insecure

Long Hours

Hard Work

Entrepreneur


Sba small business administration
SBA OwnersSmall Business Administration

  • Helps to start, build

    and grow businesses

  • Supplies aid, counseling, assistance

    and protection to small businesses.

    www.sba.gov