Premium Essay

Business Gone Bad

In: Business and Management

Submitted By ash22
Words 341
Pages 2
Ashley Jackson
Essay 2
Intro to Business
7/25/13
Starting and Operating a New Business In chapter 3 we learned all about starting up a business. We learned that there are a lot of key factors that go into starting a business. We also know that it may not always turn out successful. I found an article on bizjournals.com that talks all about the economy and entrepreneurship. It talks about how it’s been in the past and how it’s been since 2012. An entrepreneur is a businessperson who accepts both the risks and the opportunities involved in creating and operating a new business venture. The article states that entrepreneurship is on the rise again, but there is still one thing holding a lot of Americans back and that is the risk that the business may fail. If their business fails, it’s a big deal because the entrepreneur then just lost all the time and money they had put into the business. The article says that one in three Americans feel that fear that it will fail but that’s has moved from one in every four from 2008. We learned that a Business plan (which is a document in which the entrepreneur summarizes his or her business strategy for the proposed new venture and how the strategy will be implemented) is key when starting up your own business. Without a clear written out plan chances are slim that your business will succeed. In the article it talks about how 69% of small businesses rely on friends and family members to help start up the business and get it running.
So starting up and running a business we learned can be a hit or a miss. If you don’t want to have to worry about a brand new business not working out there are also other options that are not as scary for a want to be business owner such as buying an existing business and or franchising a business. That can take the stress off of a new…...

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