Describe the role and structure of small business within the American economy.

Allison Juarez left a secure position in a good company to start her own personal organizing business. For Allison, the financial risks of leaving a set salary and retirement plan were offset by independence and flexibility. What exactly is a small business? And why are they so important to the American economy?

Explain what the traits of an effective entrepreneur are, and differentiate the types of entrepreneurs.

The Wahoo brothers took the concept of a fish taco and created a multimillion-dollar business with several locations. Their success is not based just on their delicious food. What else about these brothers and their business makes them successful entrepreneurs? Do you have what it takes to be an entrepreneur?

Summarize the advantages and disadvantages of franchising and buying existing businesses.

Have you ever thought of owning your own business but didn’t know where to start? Naomi Lawrence had always dreamed of running a restaurant. Should she start her own restaurant, buy an established one, or purchase a franchise for a restaurant?

Discuss the factors that can lead to small business failure and the steps and resources available to diminish the potential of small business failure.

What resources are available to provide assistance and guidance to small business owners? There’s a good reason why entrepreneurs are known for being risk takers: Starting a small business is risky! Having left a failing company to start his own business, Roger Sherman knew the pressures and risks he was facing as an entrepreneur. After making a good start with his business, Roger needed some assistance. Where could he go to get some short-term financial assistance?

Compare the potential benefits and drawbacks of each major source of small business financing.

All that stands between a would-be entrepreneur and a pot of gold at the end of the rainbow is a way to finance his or her dream business. Although operating a sandwich shop was not Fred DeLuca’s dream, it did become his pot of gold because it turned into one of the world’s top franchise opportunities and largest privately held businesses. And it all started with a $1,000 investment from a friend. How do small businesses obtain financing and choose between different types of financing available to them?