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A Small Business Mideset - Essay Example

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1. With at least two references, provide reasons on why a person chooses to start a small business despite having no past experience, no business model, and without a large capital over a stable career.
People choose to start a small business, despite the absence of…
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A Small Business Mideset
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Download file to see previous pages ess owner is better than the stability of being a paid employee; and they expect higher financial returns from being a small business owner than being an employee. People start a small business, despite having a stable career, because they have the willingness to take risks and they want to pursue their dreams. They also believe that there are business opportunities that are related to their dreams and passions. Amaral and Baprista (2007) studied the factors involved for people choosing to be entrepreneurs. They noted that entrepreneurs believe in their dreams of opening their own businesses because of business opportunities and because they are willing to take risks (Amaral & Baprista, 2007, p.26). Levine and Rubinstein (2013) agreed that employed people who want to open small businesses are more willing to take risks than paid employees. In addition, those who open new businesses believe that being business owners is more challenging than being paid employees. Girouard (2013) mentioned that many employees open their own businesses because they think that they are maximizing their strengths more in challenging entrepreneurial environments. Professional development may actually be better attained as entrepreneurs than as paid employees where there are constraints to continued learning and growth.
Apart from being willing risk-takers, finding business opportunities, and boosting professional development, employees who open small businesses also believe that they have more autonomy and are happier and that they can earn more. Girouard (2013) underscored that many employees want greater autonomy over decision-making. They want to be their own managers, so they start their own businesses. Autonomy as owners can also make them feel happier and more fulfilled in life. Moreover, starting a business can increase income levels. Girouard (2013) and Levine and Rubinstein (2013) provided studies that showed that self-employed individuals usually earn more per hour or have ...Download file to see next pagesRead More
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