Google search for reviews of crowdfunding sites: google.com/search?q=crowdfunding+reviews&oq=crowdfunding+reviews
Check out the facts at reputable sites like the U.S. Small Business Administration.
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Learning Objective 01-04: Identify actions key to becoming a small business owner. |
In order to start a business, the four elements of the BRIE model need to come together – boundary, resources, intention, and exchange. See Figure 1.4
< >BoundarySomething that sets it up as a firm, and separates it from the occasional buying or selling or bartering that we all do.This can be a business name or government registration, a phone or email address dedicated to the business, or a specific location for the firm in a home, commercial space, or even on the Internet.Boundary is a place to locate and protect the resources for the business.ResourcesThe product or service to be offered Informational resources on markets and running a businessFinancial resourcesHuman resources – such as your own time or that of employeesIntentionThis is simply the desire to start a businessThe most frequently occurring element of the BRIE modelExchange This is the moving of resources, goods, or service to others in exchange for money or other resources.If the firm does not exchange with its environment, there is no “business” taking place.
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Skill Module 1-2: BRIE Self-Assessment This self-assessment helps you recognize what important steps you have taken to start your business, and what remains to be done. The minimum is to have done at least one activity in each category; the more activities done in each category increases the chance of survival. Note that most points are tied to a chapter in the text. Have students periodically look at this list again to see if they progress through the class. |
SMALL BUSINESS AND THE ECONOMY
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Small business is vitally important to your community and even to our economy.
New Jobs
< >Small businesses created 65.9% of the new jobs created since 2000.They employ more than half of all Americans.They are more likely to provide jobs to part-timers, those with unusual schedule needs, people with little or no experience and those with uneven job histories.Creative destruction is the process whereby new business, products and services tend to negatively impact existing businesses, product and services.Small businesses have the freedom and flexibility to pursue ideas that larger firms may reject or what they think is important.Small businesses generate 16 times more patents and are twice as likely to be among the top one percent of all patents cited by others, a measure of importance of the invention.Table 1-3 provides examples of major inventions from small businesses and student-started businesses in 8 different situations – such as medicine or leisure.