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Self Employment and Entrepreneurship: America's Economic Backbone

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Online Think Tank

Online Think Tank

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In a previous Solutions Online Think Tank broadcast, we discussed Baby Boomers and Encore Careers. We realized that many of those entrepreneurs are valuable resources regarding self employment. Where would America be without the risk takers found in those who were willing to turn their ideas into new business ventures? According to the Small Business Administration, even though small businesses employ half of all private sector employees and have generated between 60 and 80 percent of new jobs in the last decade, no less than a third of small businesses fail within the first two years. In light of the statistics that reveal a high rate of businesses failing in the first two years, perhaps there should be more targeted effort to learn from those who have started businesses. And while the tendency is to seek information from successful entrepreneurs, there is certainly value with learning why certain business practices failed. This discussion will seek to uncover some of the challenges faced when launching a new business. Some of the questions that may be explored include the following: Are there certain types of people who make better employees than business owners? What qualities are needed o be a successful entrepreneur? How would one define success regarding their business? When should a person consider Partnership as opposed to sole proprietorship? What should a person look for in a partner? What are some of the top concerns with starting and growing a business? How can business owners screen for good employees or partners? How can new business ventures attract adequate capital to sustain? This program is designed to offer tangible solutions to the critical issues that are challenging the quality of life in various populations. We invite forward thinkers, and solutions oriented talkers to engage in meaningful problem solving. These episodes maybe forwarded to government officials to let them review solutions oriented discussions.

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