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 The Small Business
Entrepreneurship
and Management
Small Business Owners: A Profile

Entrepreneurship and Management

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Entrepreneurship and Management > The Small Business

The Small Business

• The Prevalence of Small Businesses
• Small Businesses and U.S. Jobs

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Entrepreneurship and Management > Small Business Owners: A Profile

Small Business Owners: A Profile

• The Impact of Business Owners on Success and Failure Rates
• Key Characteristics of Entrepreneurs
• The Demographics of Modern Entrepreneurs
• Trends in Business Owners: Age and Gender

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Appendix
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Entrepreneurship and Management

Key terms
• Barriers to entry One of Porter's five forces; these are the financial and nonfinancial obstacles for new entrants to entering a
given industry.
• creativity The quality or ability to create or invent something.
• employment The work or occupation for which one is used, and often paid.
• entrepreneur A person who organizes and operates a business venture and assumes much of the associated risk.
• entrepreneurs People who organize and operate a business venture and assume much of the associated risk.
• goods-producers An company that makes and sells some sort of physical product or material.
• perseverance Continuing in a course of action without regard to discouragement, opposition, or previous failure.
• service provider An organization that operates in areas such as finance, real estate, or buying products from a wholesaler and
reselling them to consumers, but does not make tangible goods.
• strategy A plan of action designed specifically to accomplish a given objective or goal. In business, the foundation of how a
business accomplishes its objectives.
• tactics Operational approaches to pursuing goals.

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Entrepreneurship and Management

Small-business owner
Small businesses often begin in the services sector due to a number of factors.

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Alcove 9. "Small Business Owners Share The Best Advice They Ever Received." License: Other http://www.alcove9.com/small-business-owners-share-the-best-
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Entrepreneurship and Management

Female entrepreneurship
Recent years have seen a dramatic rise in the number of businesses owned by female entrepreneurs. As the image shows, women are now founding
businesses at a rate 1.5 times the national average; the most prevalent such businesses include healthcare / social assistance (15.8%) and professional
/ technical services (14.1%).

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Wikispaces. "English-Final-Project-Spring-2012 - Women in Business." CC BY-SA https://english-final-project-spring-2012.wikispaces.com/Women+in+Business
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Entrepreneurship and Management

Female Entrepreneurship
Recent years have seen a dramatic rise in the number of businesses owned by female entrepreneurs. As the image shows, women are now founding
businesses at a rate 1.5 times the national average; the most prevalent such businesses include healthcare / social assistance (15.8%) and professional
/ technical services (14.1%).

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Wikispaces. "English-Final-Project-Spring-2012 - Women in Business." CC BY-SA https://english-final-project-spring-2012.wikispaces.com/Women+in+Business
View on Boundless.com
Entrepreneurship and Management

Small businesses' share of employment, 1988–2006

The small-business share of employment is relatively stable, as shown in the graph above: the bold red line representing all small businesses stays at
around 50 to 55% of the total share of employment.

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U.S.Small Business Administration. Public domain http://archive.sba.gov/advo/research/rs359tot.pdf View on Boundless.com
Entrepreneurship and Management

Mark Cuban
Mark Cuban started Broadcast.com and became a billionaire. The most fascinating characteristic about him is that he is not content. He works
relentlessly and has invested in hundreds of companies.

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Flickr. "DSC_0644 | Flickr - Photo Sharing!." CC BY http://www.flickr.com/photos/yoderbaum/4339624156/lightbox/ View on Boundless.com
Entrepreneurship and Management

Attribution
• Wiktionary. "employment." CC BY-SA 3.0 http://en.wiktionary.org/wiki/employment
• U.S.Small Business Administration. Public domain http://archive.sba.gov/advo/research/rs359tot.pdf
• Wiktionary. "tactics." CC BY-SA 3.0 https://en.wiktionary.org/wiki/tactics
• Wiktionary. "strategy." CC BY-SA 3.0 https://en.wiktionary.org/wiki/strategy
• Wikipedia. "Small business." CC BY-SA 3.0 https://en.wikipedia.org/wiki/Small_business
• Wikibooks. "Getting Started as an Entrepreneur." CC BY-SA 3.0
https://en.wikibooks.org/wiki/Getting_Started_as_an_Entrepreneur
• Wikipedia. "Entrepreneurship." CC BY-SA 3.0 https://en.wikipedia.org/wiki/Entrepreneurship
• Wiktionary. "entrepreneurs." CC BY-SA 3.0 http://en.wiktionary.org/wiki/entrepreneurs
• Wikispaces. "English-Final-Project-Spring-2012 - Women in Business." CC BY-SA https://english-final-project-spring-
2012.wikispaces.com/Women+in+Business
• Wikipedia. "Entrepreneurs." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Entrepreneurs
• Wikipedia. "Young Entrepreneur Council." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Young_Entrepreneur_Council
• Wikipedia. "service-providers." CC BY-SA 3.0 http://en.wikipedia.org/wiki/service-providers
• Wikipedia. "goods-producers." CC BY-SA 3.0 http://en.wikipedia.org/wiki/goods-producers
• Wiktionary. "creativity." CC BY-SA 3.0 http://en.wiktionary.org/wiki/creativity
• Wiktionary. "perseverance." CC BY-SA 3.0 http://en.wiktionary.org/wiki/perseverance
• Wiktionary. "entrepreneur." CC BY-SA 3.0 http://en.wiktionary.org/wiki/entrepreneur
• OpenStax CNX. "Global Text Project, The Mind of the Entrepreneur: Introduction. September 17, 2013." CC BY 3.0
http://cnx.org/content/m35333/latest/

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Entrepreneurship and Management

• Wikibooks. "Getting Started as an Entrepreneur/Opportunity/Entrepreneurship Is." CC BY-SA 3.0

http://en.wikibooks.org/wiki/Getting_Started_as_an_Entrepreneur/Opportunity/Entrepreneurship_Is
• Boundless Learning. "Boundless." CC BY-SA 3.0 http://www.boundless.com//business/definition/smarts
• U.S. Embassy. "Home | IIP Digital | U.S. Department of State." Public domain http://www.america.gov/st/business-
english/2007/November/20080603211853eaifas0.5751001.html

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