BA 101 - MODULE 8 - 15853

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BA 101 - MODULE 8

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In the first week I came to the fact that according to the report by Dane strangler who has been a senior analyst with the Kauffman foundation on the basis of data collected from the year 1996 to 2007 finds that they are the boomers in the US who came up with the new and innovative ideas. It also reveals that the highest rate of entrepreneurial activities in the US actually belongs to the age group between 55-64. These entrepreneurs have the skills to compete in this toughest phase of the economy in the US and outnumbered more experienced competitors who have large relationship network and large investment. Then I came to the benefits and the challenges an entrepreneur is facing. The benefits are that he is in full control of his life and creates his own destination. An entrepreneur has confidence in himself and this confidence brings himself great in his business. An entrepreneur faces the challenge of the lack of funds. He has to look at the banks and the financial institutions for the financial assistance. He faces difficulty in getting into the market and then building the right kind of relationship with the right kind of people. He also faces difficulty if he doesn’t have the right kind of technical skills and the experience used in doing the business.