chpt6 - 150 PART 2 Business Ownership S tarting a Small...

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150 PART 2 * Business Ownership: Starting a Small Business THE AGE OF ENTREPRENEUR Of the 14 milLion people in the United States who are self-employed. al 20 perl'ent art' 16 to 34 ,'>'ears olc\.1 "The perception is OH! there <'Hllong y( people that a job widl IBM for 30 years is no! 1ikdv to huppen," said B Phillips, a senior fello\\' in lIt:.gul'atory studies at Ihe National Federatio Independcnt Business Research Fot1nda~ion. "Thus, working in or stal·ti smaJi business has increased appeal ... where there is a feeling that vml [1'01 morc ()r'Y~ ur own dest,iny."! Colkgcs around the COUn~l)" arc respolli entrepreneurship to this trend b~l offering more course.s on the subjl:Gt of enU'cpl1eneun Accepting the risk of EntJl".e.preneurshi,p is accepting the risk of staning and running a busil starting and running a Explore [hi" chaptt'l' and think about the possibili!~' of entn::prencurshi business. your future. JOB-CREATING POWER ENTREPRENEUI IN T E UNITED STATES One of the 111ajor issues in t'be Cllited St,:ltes today is the need to create l' job", Y IU cau get SOlllt: idea ahout. the job-creating pow r of enlr~pn::n tvheID yOlllook at some of the gre<.\t Alllerican entl'epreneurs from tlbe p;lst tbe present. The history of the United States is tJ,e history 01 its enlreprent C Insider jll.:;t <:l few of the mH ny ent1'1'prcnculr'S \',:I'j(l hav'? helped shapl Alnerican economy: < Du Pont, which maJlufm,:tlln~s lihous<mds of products under slICh hi \ , Wacky grocer jim names as Teflon and Lycra, was started in 1802 'by rllendJ. ilnmig Bonamlnlo may put on his Eleutben.~ Ir0nee du Pont dl.: Nemours. SOIne 18 shareboJdeFs pro\' wizard suit and roller $36,000 in start-up money. skate through his Jungle Avon started in 1886 on $500 David McConnell bonowed tfro JIm's International Market, but he's serious When It fTicnd. comes to his business. George Eastman launched Kodak in 1880 with (\ $3,000 investmel Instead of competing on price against mega-giants Procter & Gamb.1e was fanned in 1837 by WiJJiam Procter and J;) like Wal-Mart, Jungle Jim's Gamble wi th a lata) of $7,000 in capi.tal competes on product Ford Motor Company begnn with an investment of $28,000 by 1-1 varIety. A case holding FOl-d and 11 associates. 1,200 kinds of hot sauce rests beneath an antique began \vi~h investments by founder fire engine. Why do you Bel,os's (a 111 ily and. friends. Bezos's parents invc think customers might $300,000, a huge portion or their retirement account. TI remain loyal to Jungle Jim's? they are billionaires. The stories are all about il hl:' ~ame·. One ell' repren ell\, couple of entrepreneurs had a good idea, borrowed s money [Tom friends amI f am ~Iy, und s~artecl a business, . business now employs thousands of peopk and helps country prosper. The lJli'lited Slates still has plenty of entre neurial talent. Names such as Steve Jobs U\ Computer), Ross Perot (EJecrfonic DaL.1. Syste Michael Dell (Dell Inc.), Bill Gates (Micros Hov/ard Schultz ($tarbucks), Sentt Cook (lint and Ted Turner (Cable News Network) have I come as familiar as those of the great entn: I ~ I neurs of the past.
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npIQ',cd, abOll t ~ among young ~n," said Bruce I
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chpt6 - 150 PART 2 Business Ownership S tarting a Small...

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