Answer Entrepreneurship.docx

Agnes Lorenza 2101657202 LE53 Small Business -- Independently owned and operated, not dominant in its field of operation and meets certain standards of size. Businesses are “small” in relationship to other businesses in their industries.

How to learn about a small business? •

Learn from Others – Investigate your local colleges for classes on small business and entrepreneurship; talk to and work for successful local entrepreneurs.

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Get Some Experience – Gain three years experience in the field; then start a part-time small business.

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Take Over a Successful Firm – Serve as an apprentice and eventually take over once the owner steps down.

Managing a small business 1. Planning 2. Financing 3. Knowing customers 4. Managing employees 5. Keeping records