Discussion BUSI 3004 MGMT 3106: Entrepreneurship for Small Business

Week 1: The Entrepreneurial Perspective and Legal Issues for the Entrepreneur

Welcome to Entrepreneurship for Small Business! As you begin your study of entrepreneurship, this week you will focus on the role of small business. You will examine both the legal and financial challenges entrepreneurs often face when making the leap from working as salaried or hourly employees to joining the ranks of the self-employed. Have you ever considered becoming an entrepreneur? What would excite you about this and what would be your major concerns?

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Entrepreneur Risks

The entrepreneurial process involves the pursuit of a new venture, such as new products or new companies. The individuals that undertake this process must possess unique characteristics, abilities, and backgrounds. These individuals must also be willing to accept the possibility of failure as they take on risks that others avoid. Consider the risks that are particular to entrepreneurs and how they can be dealt with.

Based on your reading for this week:

What risks do you see in becoming an entrepreneur, and how will you mitigate these risks?

With these thoughts in mind:

Post a brief statement by Day 3 that discusses risks entrepreneurs face and how to mitigate these risks.


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