Current article on entrepreneurship and/or small business management

Small business is defined as a privately owned corporation, partnership, or sole proprietorship that has fewer employees and less annual revenue than a corporation or regular-sized business. The definition of "small"—in terms of being able to apply for government support and qualify for preferential tax policy—varies by country and industry. The U. Small Business Administration defines a small business according to a set of standards based on specific industries.

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Current article on entrepreneurship and/or small business management

Content:

• Journal of Small Business and Enterprise Development
• 20 Business Articles Every Entrepreneur Should Read
• Importance of Entrepreneurship: Types, Benefits, and Styles
• ENTREPRENEURSHIP
• Small Business
• Essentials Of Entrepreneurship And Small Business Management
• 4.3 Small Business and Entrepreneurship: Similarities and Differences
• Cooperative Extension: Small Business Education
• Entrepreneurs Started Businesses in Record Numbers During the Pandemic
• Journal of Small Business & Entrepreneurship

Journal of Small Business and Enterprise Development

Entrepreneurship has changed since the heady days of the late s, when starting a dot-com while still in college seemed a quick route to riches and stock options. Much entrepreneurial opportunity comes from major changes in demographics, society, and technology, and at present there is a confluence of all three.

A major demographic group is moving into a significantly different stage in life, and minorities are increasing their business ownership in remarkable numbers. We have created a society in which we expect to have our problems taken care of, and the technological revolution stands ready with already-developed solutions. Evolving social and demographic trends, combined with the challenge of operating in a fast-paced technology-dominated business climate, are changing the face of entrepreneurship and small-business ownership.

Did new business ventures drive the economic recovery from the — and — to recessions, and are they continuing to make significant contributions to the U. American entrepreneurs are creative and productive. Are these newly self-employed workers profiting from their ventures, or are they just biding their time during a period of unemployment?

The number of net new jobs added to the economy was 1. The highest rate of growth is coming from women-owned firms, which continues to rise at rates higher than the national average—and with even stronger growth rates since the recession.

There were an estimated Between and , women-owned firms increased by percent, compared to a 44 percent increase among all businesses. This means that growth rates for women-owned businesses are 2. Employment growth was also stronger than national rates.

Women-owned businesses increased 27 percent over the past 20 years, while overall business employment has increased by 13 percent since These trends show that more workers are striking out on their own and earning money doing it.

It has become very clear that encouraging small-business activity leads to continued strong overall economic growth. The AARP predicts that silver-haired entrepreneurs will continue to rise in the coming years. According to a recent study by the Kauffman Foundation , Baby Boomers are twice as likely as Millennials to start a new business.

In fact, close to 25 percent of all new entrepreneurs fall between the ages of 55 and This has created a ripple effect in the way we work.

Boomers have accelerated the growing acceptance of working from home, adding to the millions of U. In addition, the ongoing corporate brain drain could mean that small businesses will be able to tap into the expertise of seasoned free agents at less-than-corporate prices—and that seniors themselves will become independent consultants to businesses of all sizes.

The growing numbers of Baby Boomer entrepreneurs has prompted some forward-thinking companies to recognize business opportunities in technology. At one time there was a concern that the aging of the population would create a drag on the economy. Conventional wisdom says that the early parenthood years are the big spending years.

As we age, we spend less and, because Boomers are such a big demographic group, this was going to create a long-term economic decline.

Not true, it now appears. The Boomer generation has built sizable wealth, and they are not afraid to spend it to make their lives more comfortable. Minorities are also adding to the entrepreneurial mix.

As we saw in Figure , minority groups and women are increasing business ownership at a much faster rate than the national average, reflecting their confidence in the U. These overwhelming increases in minority business ownership paralleled the demand for U.

Small Business Administration loan products. Overall, minority-owned businesses increased 38 percent. The SBA notes that the number of Hispanic-owned businesses has increased more than 46 percent between and With enough intelligence and determination, people can get rich almost anywhere in the United States.

Whether you own chains of dry cleaners in Queens, car dealerships in Chicago, or oil wells in West Texas, fortunes have been made in every state in the Union. There are some places, however, where the chances of creating wealth are much greater than others. That is the reason why people who hope to strike it rich move to places such as Manhattan or Palo Alto.

Whether starting a software or soft-drink company, entrepreneurs tend to follow the money. But not all companies follow the herd. The company headquarters in Denver is next door to a Montessori school and employs 58 employees. Every single parent noticed that it had a huge gym but not a day care.

In , equity financing in U. Ventures Leader at PwC. The top five U. Changes in demographics, society, and technology are shaping the future of entrepreneurship and small business in America.

More than ever, opportunities exist for entrepreneurs of all ages and backgrounds. The numbers of women and minority business owners continues to rise, and older entrepreneurs are changing the small-business landscape.

Catering to the needs of an older population and a surge in web-based companies fuel continues technology growth. Entrepreneurs typically follow the money and set up shop in places where there is venture capital money easily available. You have an idea for a new snack product for nutrition-conscious consumers and are thinking of starting your own company. What entrepreneurial characteristics do you need to succeed? What other factors should you consider before quitting your job?

Working with a partner, choose one to be the entrepreneurial employee and one to play the role of his current boss. Develop notes for a script. Then switch roles and repeat the discussion. What does it really take to become an entrepreneur?

Your class decides to participate in a local business plan competition. Divide the class into small groups, and choose one of the following ideas:. Prepare a detailed outline for the business plan, including the objectives for the business and the types of information you would need to develop product, marketing, and financing strategies. Each group will then present its outline for the class to critique. The company specializes in business luncheons and small social events.

The owner has been running the business for four years from her home but is expecting her first child and wants to sell. You will need outside investors to help you purchase the business.

Develop questions to ask the owner about the business and its prospects, as well as a list of documents you want to see. What other types of information would you need before making a decision to buy this company? Summarize your findings in a memo to a potential investor that explains the appeal of the business for you and how you plan to investigate the feasibility of the purchase. As the owner of a small factory that makes plastic sheeting, you are constantly seeking ways to increase profits.

Then a letter from a large national manufacturer of shower curtains seems to provide an answer. Even though the letter clearly states that the business must be minority owned to qualify for the program, you convince yourself to apply for it based on the fact that all your employees are Latino. You justify your decision by deciding they will benefit from the increased revenue a larger contract will bring, some of which you plan to pass on to them in the form of bonuses later in the year.

Using a web search tool, locate articles about this topic, and then write responses to the following question. Be sure to support your arguments and cite your sources.

But his latest venture is a start-up … for start-ups. A typical business incubator provides start-up companies with workspace, mentoring, training, and sometimes a path to funding, but Innovation Pavilion goes further.

But it also hosts meetups, educational workshops, and a Toastmasters group designed specifically for entrepreneurs. It contains a makerspace a workspace providing shared tools and manufacturing equipment for prototyping products and encourages the growth of niche entrepreneurial communities based on specific industries. These communities bring together people in an industry to learn from and collaborate with each other.

While IP has a traditional incubator program, with companies housed within the IP campus, it has a semi-virtual hypergrowth accelerator program for more mature firms, too, which is open to companies around the country. IP operates its own streaming TV service, filming educational events and interviews with entrepreneurs.

IP is in discussions with 20 cities around the nation, with the goal of building ,square-foot campuses providing incubator services, office space, makerspace, education and training, outreach to young entrepreneurs, conference centers, retail space, and even housing. Entrepreneurs will be able to live and work in a space with everything they need, providing a complete entrepreneurial ecosystem in smaller cities across the nation. Skip to content Entrepreneurship. Into the Future: Start-ups Drive the Economy Did new business ventures drive the economic recovery from the — and — to recessions, and are they continuing to make significant contributions to the U.

Aided by digital photography, wireless technology, and friendly postal workers, these savvy moms are one of the fastest-growing segments of entrepreneurs building successful businesses on the web. Why are many professional women leaving the workplace to start entrepreneurial ventures online? Whether starting a software or soft-drink company, entrepreneurs tend to follow the money But not all companies follow the herd.

What significant trends are occurring in the small-business arena? How is entrepreneurial diversity impacting small business and the economy? How do ethics impact decision-making with small-business owners? What trends are shaping entrepreneurship and small-business ownership? Chapter Review Questions What are the differences between classic, multipreneurs, and intrapreneurs? What differentiates an entrepreneur from a small-business owner? What are some major factors that motivate entrepreneurs to start businesses?

How can potential business owners find new business ideas? Why is it important to develop a business plan? What should such a plan include? What financing options do small-business owners have?

20 Business Articles Every Entrepreneur Should Read

Entrepreneurship has changed since the heady days of the late s, when starting a dot-com while still in college seemed a quick route to riches and stock options. Much entrepreneurial opportunity comes from major changes in demographics, society, and technology, and at present there is a confluence of all three. A major demographic group is moving into a significantly different stage in life, and minorities are increasing their business ownership in remarkable numbers. We have created a society in which we expect to have our problems taken care of, and the technological revolution stands ready with already-developed solutions. Evolving social and demographic trends, combined with the challenge of operating in a fast-paced technology-dominated business climate, are changing the face of entrepreneurship and small-business ownership.

Importance of Entrepreneurship: Types, Benefits, and Styles

It is a relevant source for contemporary thought concerning entrepreneurship, venture start-ups, and small business management anywhere in the world. Published in English and French, this journal brings the Canadian knowledge in the targeted areas from Canada to other countries while bringing to Canada the recent developments taking place in other parts of the world. The Journal follows a double blind review process. The JSBE was established in and has been published continuously since. The founding editor was Raymond Kao and the journal has been published by the Centre of Entrepreneurship Centennial College under the editorship of Mitch Lenko. Its members include academics, educators, representatives of small business support organizations, researchers, government officials, students of entrepreneurship, and policy makers. The degree of outreach, national and international, the bilingual publishing, and the quality of the editorial board leading to high quality content, are among the distinctive features of the JSBE. Nationally, it is the journal of those working in the field, both academic and non-academic. The JSBE is available in hard copies.

ENTREPRENEURSHIP

Economies are powered by innovation. Much of that innovation derives from forward-thinking individuals who possess the drive, skills, and background to turn a business vision into reality. The importance of entrepreneurs extends beyond the effect those individuals have on their own companies, however. They impact their broader communities, and, in some cases, even the world.

Small Business

Everything that you need to know to start your own business. From business ideas to researching the competition. Practical and real-world advice on how to run your business — from managing employees to keeping the books. Our best expert advice on how to grow your business — from attracting new customers to keeping existing customers happy and having the capital to do it. Entrepreneurs and industry leaders share their best advice on how to take your company to the next level. Big tech companies are investing heavily in the metaverse — defined as the next iteration of the internet and an immersive, virtual reality where people and businesses can interact —which is expected to grow at a

Essentials Of Entrepreneurship And Small Business Management

A starter kit for leaders of social change. The nascent field of social entrepreneurship is growing rapidly and attracting increased attention from many sectors. The term itself shows up frequently in the media , is referenced by public officials, has become common on university campuses, and informs the strategy of several prominent social sector organizations, including Ashoka and the Schwab and Skoll Foundation foundations. The reasons behind the popularity of social entrepreneurship are many. But interest in social entrepreneurship transcends the phenomenon of popularity and fascination with people. Social entrepreneurship signals the imperative to drive social change, and it is that potential payoff, with its lasting, transformational benefit to society, that sets the field and its practitioners apart.

4.3 Small Business and Entrepreneurship: Similarities and Differences

Have you ever heard someone saying that running a business is easy? Because it takes a lot of practice to attain the self-discipline and determination to even develop a thought process of handling the small business problems and challenges. Many have overcome this hardship of business problems and adapted the lifestyle of an Entrepreneur.

Cooperative Extension: Small Business Education

Shaunn Mattingly , associate professor in the Department of Management, and Garrett McBrayer, assistant professor in the Department of Finance, have had an article accepted for publication in the International Journal of Entrepreneurship and Small Business. The paper titled, Consideration Sets as Resources for Business Model Generation, develops a model to reconcile competing views in the current literature about the use of external versus internal knowledge resources in the search of entrepreneurial opportunities to develop into business models. They specifically model how entrepreneurs can combine external knowledge sources within internally held private knowledge to identify opportunities that can be developed into working business models more efficiently than opportunities identified from only one knowledge source. International Journal of Entrepreneurship and Small Business publishes and fosters discussion on international, cross-cultural and comparative academic research about entrepreneurs and SMEs. The journal focuses on emerging research topics such as entrepreneurship in developing and transitional countries, gender, family and self-employment, and social enterprise.

Entrepreneurs Started Businesses in Record Numbers During the Pandemic

Subjects: RSS feed. This paper is a rejoinder to the work of Blohm, Antretter, and colleagues recently published in both Entrepreneurship Theory and Practice and Harvard Business Review…. Although the use of management control systems MCS is known to support organizational strategic success, the role played by MCS to monitor stakeholder satisfaction, thus…. The purpose of this paper is to explore how inter-agency engagement across levels of government and the agencies' policies impact the development of Micro, Small and…. The authors test several hypotheses to analyze the influences of community-mindedness, ethical and social responsibility, culture, and gender on performance and job satisfaction. In this study, a panel of 74, Italian SMEs was analyzed to verify whether any syndromes could be identified and defined through financial ratios.

Journal of Small Business & Entrepreneurship

Businesses are defined as "small" in terms of being able to apply for government support and qualify for preferential tax policy varies depending on the country and industry. Small businesses range from fifteen employees under the Australian Fair Work Act , fifty employees according to the definition used by the European Union , and fewer than five hundred employees to qualify for many U. Small Business Administration programs.