In relationship to this class we will be looking at the following types of enterprises:
Traditional types of business models or a for profit company which include:
1. Micro-enterprises–which typically have 5 or fewer employees and have less than $35,000 worth of seed funding
2. Small businesses–have fewer than 500 employees, are not dominant in their field, and are privately owned
3. Family Business–companies owned by a single family
4. Franchises–licensing the rights to operate a standard business model to multiple business owners
5. Scalable Ventures–take innovative ideas and grow them into a HUGE company that has increasing revenues with decreased investments
Additional organizations that operate for profit and for the betterment of society:
6. non profits–organizations that raise money to accomplish their goals instead of distributing profits to shareholders as dividends.
7. social entrepreneurship–identifies and solves a social problem on a large scale through a standard business model.
We will also be taking a look at why people choose to become entrepreneurs. Or do they?
DISCUSSION QUESTION: Thinking about starting a business for yourself, which type of business is most appealing to you? Why?
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The most accurate response, in my opinion, is this: micro companies are essential to both our local communities and economy. These companies are frequently driven by creativity, enthusiasm, and a strong feeling of community. Small businesses, such as family restaurants, boutiques, and bakeries in our neighbourhoods, add to the life and diversity of our towns and cities. A tailored approach is one of the main advantages of helping small businesses. Customers have a direct influence on the prosperity of these small companies and contribute to the well-being of their communities by shopping there. Additionally, your pastimes—like reading a paid blog, purchasing a book, or engaging in online gaming—can benefit businesses. Nowadays, though, there are plenty of opportunities to play for free, not unlike slots. Dragon Spin by Bally at Slotamia can be played for free, at your leisure. If you’re interested, explore this slot. So, let’s continue to keep the entrepreneurial spirit alive and empower the pillars of our economy.