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Small Business Entrepreneurship Economic Rocket Fuel
Small Business Entrepreneurship Economic Rocket Fuel
Small Business Entrepreneurship Economic Rocket Fuel
ROCKET FUEL
ENTREPRENEURIAL
“People who risk their time, money and other resources to start and manage
a business.”
LOCUS OF CONTROL
• Internal locus of control:
• Deep-seated sense that an individual is personally responsible for
what happens in his or her life
• Results in self-reliance
• External locus of control
• Feeling buffeted by forces such as random luck and the actions of
others
VENTURE CAPITAL(VC)
Venture capital firms (VCs) invest in start-up businesses with high
growth potential in exchange for a share of ownership
VCs have funded many major companies in digital industries,
including Facebook, Twitter, Instagram, Uber, etc.
VCs also play a major role in funding Fashion start-ups
Opportunities
Identifying a market niche*
Personal customer service
Lower overhead costs
New opportunities fueled by new technologies and the Internet
THREAT
High risk of failure…half fail in the first 5 years
Lack of knowledge and experience
Less funds
High regulations
Higher health insurance costs