Primero

Guide 1:
So You Want To Be
An Entrepreneur?

Guide 1: So You Want to Be an Entrepreneur?
n INTRODUCTION
Welcome to the Citibank Small Business information guide series. This is one of ten
guides that have been developed just for you, a person who is thinking about starting
a small business or who has made the commitment to start one. It is targeted to
people who are considering startinga small business as well as small business owners
who want to learn more about successful strategies and skills. Citibank worked with
a team of small business owners like you to develop, write, and produce this series.
All of us know how important it is to have clear, concise information to make smart
business decisions. Our goal is to share experiences about the dynamic, exciting smallbusiness community.

It’s important to
have clear, concise
information to
make smart
business decisions.

n Overview
This first guide in the series provides an overview of the field of entrepreneurship
and how you potentially fit into this field. You will quickly find that becoming an
entrepreneur is all about decisions. As you look at yourself in the business mirror,
have you carefullyconsidered the practical realities and responsibilities of having your
own business?
Entrepreneurship is open to all individuals without preference to class, sex, race, creed
or nationality. Men and women from all walks of life, all ages, and all countries have
created innovative, successful businesses! Where do you fit into this picture? There are
no barriers – careful thought and planning isrequired no matter who you are or what
you want to start.
How do you decide if an entrepreneurial experience is best for you? You’ve probably
begun to explore and learn more about the personal, economic, and legal parameters of
starting a new business. Along with that research, you should carefully review the pros
and cons of having a career as an employee in a corporation as opposed to acareer as
the owner/manager of a new, small, and perhaps, struggling business. In today’s job
market, is there any such thing as a stable career?
Guide 1: So You Want To Be An Entrepreneur?

page 

The U.S. entrepreneurial landscape exhibits some very strong positive characteristics:
•

The culture of the United States is one of seeking opportunities and taking
risks.

•

The agegroup most active in entrepreneurial activity in the United States
includes people between 5 and 4 years of age with a broad variety of ethnic
backgrounds. The U.S. diversity contributes positively and significantly to
continuing and expanding the country’s entrepreneurial tradition. (00 Global
Entrepreneurial Monitor Report)

•

One out of every nine people (about 11% of the U.S.population) is involved
in entrepreneurship - either currently involved in the start-up of such an
enterprise or has been within the preceding 47 months. (00 Global
Entrepreneurial Monitor Report)

There are about
25 million small
businesses across
the United States.

The U.S. Small Business Administration looks at “small business as the engine of
economic growth.” Consider these recentstatistics.
•

There are approximately 5 million small businesses in the country. More than
10.5 million Americans are self-employed.

•

Small businesses currently employ more than half of the country’s workforce
and account for more than half of the private sector economic output.

•

Small businesses provide approximately 75 percent of the new jobs added to
the economy.Nevertheless, small businesses are not guaranteed to survive. This Guide is designed to
help you do the “homework” that is essential to increase the odds that your business
will survive — and thrive!
So You Want to be an Entrepreneur? will guide you through many questions and
many ways to assess whether or not entrepreneurship is right for you. You will be
encouraged to weigh your motives, your...