Entrepreneurial Business Introduction
The art of changing the world through innovative business ventures, driving economic growth, and opening new opportunities.
Types of Entrepreneurial Businesses
Abundant but struggle for funding. Examples: hairdressers, grocery stores, electricians.
2. Scalable Startup
Visionary entrepreneurs with venture capital. Examples: Facebook, Instagram, online shopping.
Importance of Entrepreneurial Businesses
Entrepreneurial businesses create jobs, stimulate the economy, address societal needs, and contribute to social services through increased tax revenues.
Small businesses where the owner is personally responsible for the business with no legal distinction between owner and industry.
Entrepreneurial ventures involving multiple individuals sharing management, profits, and legal trade operations.
US business model with limited liability for owners, combining features of partnerships/sole proprietorships (taxation) and corporations (limited liability).
Authorized entities composed of people or companies acting as one, guided by a board of directors, with legal rights and separate existence.
Franchises are licensed businesses that use a company's name, knowledge, and processes, paying fees to operate under the original brand.
Entrepreneurship offers various options, from large ventures to small businesses. It involves risk, failures, and new ideas, allowing for multiple business opportunities.
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