This chapter focuses on entrepreneurial aspect of business. The statistics are something like 80% of businesses are privately owned companies. A 100% of these businesses had to have someone take a chance and therefor had an entrepreneur start the company.
There is no doubt being an entrepreneur involves risk, but there are ways to go about this risky but much rewarding chance. This chapter goes into the growth entrepreneurship has encountered in the recent years. The chapter also expresses innovation that must take place when entering a competitive challenge like this. It can be expensive but there are ways to reserve your finances and your liability. You need to spend money to make money. The text also briefs you on transaction cost and the opportunities that are available.
I thought the United states would be higher on the percentage of GDP for Venture Capital. If you really consider the businesses in your hometown and many alike, they are mostly privately owned. Look at all the local hair salons, mechanics and those who buy into the franchise industry. There is no doubt this will rise in the future years.
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