Let’s Get This Business Started

The Saturday after Thanksgiving is called Small Business Saturday. It is a day to celebrate and support small businesses and their value to our communities. As a small, independent, employee-owned business, we would like to share a section from Exploring Time and Place: Colorado Edition (3rd grade) about entrepreneurship. Read through to receive a free lesson plan to create a business idea with your students.

The people who start businesses are a special kind of human resource. They are called entrepreneurs. Their reward for starting a business can be great. But these people also face many possible problems.

Risks

If an entrepreneur is already working, they might have to leave their job to start their new business. So they may not have a steady income.

Also, many new businesses do not succeed. So an entrepreneur risks starting something that might not work out. They might lose time and money. And knowing that things might not go well can be scary.

People often need a lot of money to start a new business. One way to get it is with a bank loan. A bank lends them money, but they have to pay the loan back. Like a credit card, they also have to pay interest for the amount of time they had the loan.

Sometimes, a person starting a business asks other people to help with money. These people are called investors. If the business does well, investors earn money back.

Entrepreneurs can raise money online. There are also websites to help people with new business ideas. For example, crowdfunding websites let people post about their business idea. Then they can connect with investors.

Rewards

There are many possible rewards for entrepreneurs. One reward is independence. An entrepreneur is their own boss. They have the freedom to follow their interests, make decisions, and pick their own work hours.

If things go according to plan, a new business will make money. Then the entrepreneur might make a profit. Using that profit, an entrepreneur can grow their business. They can make money. They can hire people. They can be a key part of their community.

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