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adownload_doc-8.php - 10/8 Small...

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10/8 Small Business/Franchises/Entrepreneurship What is a small business? pp 61 o Employees – less than 500 (250 Europe) o Sales – less than $2.5million The GDP growth in the next decade will come from small and medium size firms going global Small Business Classifications o Lifestyle and high growth Entrepreneurs-an individual who starts a business and risk his finances in hopes of earning a profit Venture capitalists- an individual or company who finances someone else’s idea Usually looking for high growth potential to provide a high rate of return on his investment as well as part ownership in the venture Business incubators- organizations that assist new firms by providing low- cost facilities to small start-up ventures Attractions and Distractions of Small Business pp 62 Small business pp 63 o Factors favoring Shit to service is smaller in size Computers o Economic Role New jobs Outsourcing for large corporations Minority equality Key to small business success?
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