Question

Entrepreneurs Please respond to the following with a 250-300 word response: Analyze the characteristics of a successful entrepreneur (see pages 5-7 in textbook) and determine if you have what it takes to start your own business. Provide specific examples to support your response. A recent tax change will significantly lower tax rates for businesses. Consider the contributions of small businesses, as discussed on pages 27-28 in textbook, and provide your opinion on this tax modification.

Answer 1

Characteristics of successful entrepreneurs:

• They are passionate towards the task associated with their business.
• They are often self motivated and inspired 24/7.
• risk taker,
• they believe in themselves and their project and show complete dedication to their project,
• adaptable and flexible with respect to client and market needs strong money management skill,
• Planning skills
• successful entrepreneurs reach out to mentors with more experience and extensive network to seek valuable advice,
• in case there is failure entertain ready to face it by saving adequate reserve.

Yes I have required skills to start my own business because of commitment dedication exhibit towards my passion.

Recent tax modification from global to territorial tax system with respect to corporate income tax will help to lower the overall effective tax rate from 35% to around 21%. This would be beneficial for the economy and more businesses , entrepreneurs and startups would start to emerge.