Chapter 6 - • Total number of U.S employees that work in...

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Chapter 6 76% of new Innovation comes from small businesses. Entrepreneur is the person that takes the risk involved with starting a new business. They have certain qualities that are unique to them. They have a business sense, knowledgeable in their field, passionate, take calculated risk etc. Companies now pay “intrapreneurs,” they pay people with in their company for new ideas, new innovation, etc. o Post it Notes, 2005 Mustang, etc were invented/thought of due to companies paying and allowing for employees to take time to think out of the box. Small businesses create 75% of the new jobs in the U.S. There are 20 million small businesses in the US.
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Unformatted text preview: • Total number of U.S. employees that work in small businesses is greater than the population of Australia and Canada combined. • Restaurants, Furniture Stores (Retail), and Construction are the easiest businesses to start but the fail the most often. • The general rule of thumb is that the harder the business is to start, the more stable it will be in the long run and less likely to fail. • There are government run agencies created for the sole purpose of helping the start up of small businesses. They consult, help, and give that extra push to recently started small businesses....
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