The term small business entrepreneurship is used to describe a type of business in which the owner acts on a business idea and creates a new product or service. Such ventures are generally small, and do not require a large amount of outside funding or resources. Instead, they are run on the owner’s own money with little to no outside help, only taking out a small loan to continue.
The Small Business Entrepreneurship program at DCTC focuses on the skills and values that are essential to starting a small business. It also provides students with hands-on training and experiences. They will learn about business planning, marketing, customer service, financial management, and business communications. The program also offers a variety of internships and networking events that can help students gain valuable experience in small business entrepreneurship.
In the United States, more than half of all new jobs are created by small businesses. The dynamism of small businesses is vital for the economy. However, one-third of small businesses fail within two years. In addition, fifty percent fail within five years. In spite of these statistics, entrepreneurs must be armed with the right mindset to succeed in the marketplace.
The idea for a small business should be something that you enjoy. Money should be one of the motivating factors, but remember that the small business should also be something that you are passionate about. You should try bouncing your idea around with friends and family to get feedback. And most of all, have fun!