Business Notes 09/25/2013
Entrepreneurship & Small Business
Identify and Own idea
As a Boss
Take out loans
Small businesses employ 52%+
Small businesses & relationship with Big businesses
Mostly service products 80% vs. good products 20%
Cons & Pros of…
Start from scratch
Advantage : You start with a clean slate and build the business the way you want.
Disadvantage : It’s up to you to develop your customer base and build your reputation.
Advantages : You’ll already have a proven product, current customers, active suppliers, a known location,
and trained employees.
Disadvantages : It’s hard to determine how much to pay for a business; perhaps the current owners have
disappointed customers; maybe the location isn’t as good as it used to be. Franchise (probably the most expensive)