Chapter Preview
This chapter will cover different types of entrepreneurs, business structures, planning tools, and resources to help new businesses.
Learning Objectives
After reading this chapter, you should be able to do the following:
- Discuss why entrepreneurship is important to society.
- Summarize the factors contributing to the success or failure of small businesses.
- List four characteristics or traits an entrepreneur should have.
- Distinguish between a social entrepreneur, a necessity entrepreneur, and an opportunity entrepreneur.
- Outline the steps involved in creating a new business.
- Compare the four types of business structure: sole proprietorship, partnership, corporation, and co-operative.
- Explain what a business plan is and how it is used.
- Express how the business model canvas is used.
- List the types of support an entrepreneur might obtain for starting a new business.
