Section 1.1 – What is Entrepreneurship?

A business is an organization that provides products or services, usually to make money.

A person who works in a business owned by someone else is an employee.

Someone who creates and runs their own business is called an Entrepreneur.

To be entrepreneurial means to think or act like an entrepreneur.

Entrepreneurs When an entrepreneur

begins a business risk is involved.

The investment that is made by an entrepreneur is money, time, energy.

“Nothing ventured, nothing gained”

Employees Less risk than being an

entrepreneur.

Required to perform tasks that the entrepreneur, or manager requests.

When people think of business they often focus on large companies like Ford, Microsoft, and Nike.

More businesses are considered small than large.

Small Businesses = 100 employees or fewer (less than 500 in the case of manufacturing businesses) Employ over half of the United States private

workforce and create about 64% of new jobs.