According to the U.S. Small Business Administration’s (SBA) Office of Advocacy, hundreds of thousands of new businesses are started each year.The purpose of this assignment is to examine in more depth the risks, rewards, challenges and opportunities of operating a small business.
Interview a current business owner.This can be a business owner in the community, a relative or friend.Your interview must address at a minimum each of the topics below:
- Background of the Entrepreneur.This section addresses “who”.Provide some background information on the entrepreneur – experience, education, training, etc.
- The Venture.This section addresses why, how, what and when.Why did the entrepreneur decide to go into business? Why this particular business?How did s/he do it?What is the main product or service provided by the business?When was the business started?
- Struggles and Challenges.Difficult issues and/or challenges the business owner has faced, how these were overcome, and what new challenges s/he faces.
- Risks and Rewards. What are the risks of being a small business owner? What aspects has the entrepreneur found most rewarding?
- Learning on the Journey.What has the owner learned about business and life on this entrepreneurial journey? What advice on starting and running a business can s/he share with aspiring entrepreneurs?
- Your Own Learning.This section should address the insights, observations or lessons about business ownership you gained as a result of this interview and report.
Write the report in narrative form.Do not simply list the questions and answers.Identify the entrepreneur, the name of the business, and the location.Your report should be double-spaced, using a 12-point Times New Roman or similar font, with 1” margins on all sides. Your paper should be a minimum of 2 full pages (not less than 500 words), not including title page and references. Your assignment must conform to APA style. (You can find information about APA style on the Purdue University Online Writing Lab website