1. Entrepreneurship
Chapter 4.1

2. What the advantages and disadvantages of entrepreneurship are
Read to Learn
What entrepreneur means and the traits that most successful entrepreneurs share
What the advantages and disadvantages of entrepreneurship are

3. Main Idea
Gaining knowledge about entrepreneurship and its advantages and disadvantages will help you decide if this is a good career option for you

4. Key Concept and Key Terms
What is Entrepreneurship?

5. What is Entrepreneurship?
Small businesses represent more than 99 percent of American Businesses
Small businesses employ more than 50% of the nonmilitary workforce

6. What is an Entrepreneur?
The risks of being an entrepreneur are high but the rewards can be great
Key Term: Entrepreneur – A person who organizes and them runs a business

7. Advantages of Entrepreneurship
You are in charge. You decide when and how hard to work and how the business will operate
Great job satisfaction
Entrepreneurship can lead to a good income

8. Disadvantages of Entrepreneurship
Financial Risk
Long Hours
Competition can be difficult to overcome
There are no guarantees of success. Almost half of new businesses fail with in the first four years

9. Traits of Entrepreneurs
Motivation – Entrepreneurs stay motivated by setting long and short term goals
Sight and foresight – Entrepreneurs look at problems and see opportunities
Decision making – Entrepreneurs make decisions every day and the decisions must be good ones

10. Exit Questions
Name one common trait of most entrepreneurs. Explain why you think that trait helps people begin and run successful businesses.
Choose one disadvantage of entrepreneurship. Explain how you might overcome that disadvantage if you ran your own business.
Does entrepreneurship appeal to you? Explain