Business entrepreneurs are people who own their own business. They frequently work in their own firms themselves, but usually employ others to work in the business for them.
Many small business enterprises begin by relying on family members as the employees. Stories have become business legends about young computer entrepreneurs such as Bill Hewlett and David Packard who started a business in their garage and created a worldwide, global company, Hewlett-Packard (HP). Steve Jobs and Steve Wosniak share similar modest beginnings and became business revolutionaries, and wealthy, as a result of Apple Computer.
Although they are literally self-employed, entrepreneurs are not the same as people that are self-employed.
Entrepreneurs create value in the economy by providing jobs, and investment.
Sometimes people start a business out of necessity as a result of being out of work, or being dissatisfied in a current job. For the immigrant community, another impetus may come from over-qualification for the work available, or the non-acceptance of academic or professional credentials.
Why You Should Become an Entrepreneur…
Be your own boss. You chose who you sell to, who you buy from, who you work with. Including how much you work and how much you spend on promotion, production, and overhead.
Opportunity for greater financial success. When you work for someone else, you are contributing to their financial future all of the time, and to your own financial future only to the extent that they decide.
Opportunity to build equity. When you own your own business, you also own the means of production, which can develop into substantial value. This equity represents assets that can be sold to someone else or passed on to your heirs.
The opportunity to have control over your life and job. It is not just the ability to say what hours you will work but it also involves every step in the operation of a business. When you are the boss, all decisions from design concept to job creation, sales, business operations, and customer relationship management ultimately circle back to the boss and his or her philosophy and motivations.