Entrepreneurship: Is now a good time to start your own business?

Where we find ourselves

In this time of uncertainty, when many Americans are struggling to make ends meet, we as a country are faced with severe problems in the workplace. Businesses are cutting back or going under and jobs are in jeopardy. Finding a way to generate a living, much less start a satisfying career is becoming more and more difficult. However, there is one bright spot that many may have overlooked. Entrepreneurship and the feasibility of small business is gaining some revitalized validity though out the nation and right here in Louisville.

Based on a series of interviews with Louisville business persons it appears that, even though small business entrepreneurs have had to cutback like everybody else, they have managed to survive better than some larger businesses. Our country's economy was built on small business endeavors and entrepreneurship. Small businesses were the cornerstones of our economic system and contributed to its development. Today, small business and entrepreneurs are again becoming more important than ever.

Entrepreneurs are now driving the technology boom, which is itself driving much of the world's economic growth. This makes entrepreneurs very important from a macro-economic perspective. They have become a broader economic phenomenon; a major impact on the economy. As the globalism of business becomes even more widespread, this impact will be felt even more deeply.

The challenges of starting a business

There are many challenges in starting a business. A person may have a great idea, may be able to raise a little start up money, and work out a lot of the beginning logistics. However, there are such a wide variety of skills needed at the implementation stage, that no one person can have the skills to manage all the functions well. The real talent is for entrepreneurs to recognize what they do well, develop the additional skills they will need, then find employees or subcontractors who can fill the gaps .

Acquiring the right skills and information

At the implementation stage of a business, some of different skills involved are: employees, marketing, advertising, sales, communications, public relations, legal needs, government regulations, equipping the office, risk management, disaster planning, crisis management, insurance, technology, hardware, software, the Internet, and bookkeeping, managing debt, taxes, and barter. Without attention to these skills, there is no business. As a result, business schools are developing programs geared to small business and the entrepreneur.

Louisville business schools

The are very good business schools in every state. Louisville has a variety of options for obtaining the necessary skills and information to start almost any kind of small business. Some of the local schools with good business programs are : University of Louisville, Sullivan University , Brown-Mackie College, Spencerian College. There are many others, some of which are in your area. For information, check the yellow pages of the Internet.


Note: The university of Louisville is now offering a doctoral program in entrepreneurship with some of the finest experts in the country.


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