For some it is because they have a great idea that will benefit other people and they can see the possibilities that can come from it.
For others it is because they think they can do a better job than their current employers. Or they get disgruntled thinking that their employer is getting rich from all their work. So they decide to set up their own business and do it themselves.
Then again it may be a natural progression. For example, you may have done an accounting degree and worked for another accounting firm to get experience, but your original goal was to start your own firm.
Some people say they are unemployable. They can’t work for someone else so they go to work for themselves.
Others think it the best way to get rich. You’ll never get rich working for someone else.
And then others just want to have a go at working for themselves while others start their own business simply because they cannot get a job.
Wikipedia (http://en.wikipedia.org/wiki/Entrepreneur) says ‘In political economics, entrepreneurship is the process of identifying and starting a new business venture, sourcing and organizing the required resources, while taking both the risks and rewards associated with the venture.’
This really classifies anyone who starts a business as an entrepreneur.
However, some people are forced to start their own business. For example, it is not uncommon for a business to only engage contractors instead of employees because of the risks and costs involved in being an employer. So someone who would otherwise have been an employee becomes a business owner. They only work for one company and have regular employment with very little risk. That’s not to say there is no risk. Because if a company does not have any work then the subcontractor could be the first one to miss out and not receive any income either.
A true entrepreneur does take risks and that may be why the failure rates of business are so high. But many people who own a small business take minimal risks and simply want to make ends meet. They are not really interested in growing their business or doing anything to improve.
This is unfortunate because building a successful business is one of the best ways to increase your wealth.
So this blog is dedicated to those small business owners who actually do want to achieve success and use their business to increase their wealth.
We hope you enjoy our content and find it useful for your success.