Essay about Self-Employment

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Today large companies are downsizing and reengineering with much more frequency, and it would appear that the trend has become one of people starting their own business. An interesting statistic stated that in the United States a new small business is started every 11 seconds; (of course many do fail, but they are started all the same). (Sullivan) We must also keep in mind that starting a business and being self-employed are not always one in the same-as this paper will examine in more detail. People can be, and often are, simultaneously owners, self-employed producers, and capitalists.
It was stated that, In traditional economics a basic principle is that economic resources-the means of
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Third, an entrepreneur is an "innovator." That is to say that they are an individual who attempts to introduce new products, new productive techniques, and or perhaps new forms of business organization to the economy. The fourth component to being an entrepreneur is that they tend to be a risk taker in terms of time, effort, and reputation. They are also risk takers in dealing with their own invested funds and the funds of their associates and other stockholders. (Kautz, "Entrepreneurial Issues.")

The ideas contained within entrepreneurship are not new. Entrepreneurs have actually existed throughout history, but the arrival of the 20th Century has brought with it a new vitality to the economy, and there has been an increased flourishing of the field of entrepreneurship. Our world is continually and constantly changing which in and of itself creates new opportunities for firms. The service sector of the economy is always increasing and changing as well. Plus, the very fact that the public views small businesses in a "positive light" and believes that they are good for the overall well being of the economy, is also a contributing factor to this increase. In 1969, there were only 274,000 new corporations started per year, but by 1995 the annual number had reached 770,000. Another obvious trend is the number of people who have started to work from home either running their own home business or

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