First of all I would like to describe what does entrepreneurship means for me. I understand entrepreneurship as a process of organizing or managing a business in a daring way with an innovative point of view, and a lot of risk taking.

At this point, we can compare if this description matches with owning a small business. From my point of view we can say that there are plenty of small business owners which can be  classified as entrepreneurs. But on the other hand we have owners of other kinds of business as traditional business which also takes risks owning a small business but their ways of managing those activities are not focused on innovation. For example a traditional shoe maker who has being doing the same business for the last 30 years its not an entrepreneur, he might used to be 30 years ago but anymore.

To conclude,  this terms have lots of things in common and sometimes both go together, but there are differences between them.

 

 

Question 4: If you start a company, will you expect to always be in control, or will you be willing to share control with others if that will help the company grow and make all the participants wealthier?

In my opinion, from the very begining you can have the control of the company, but as soon as it starts to grow and become a larger institution you will need to delegate control in other people so the management will become more efficient and will let the company grow faster and in a better way. If you do not share control with others there will be a point where the company gets stocked in terms of growth.

 

Question 7: What are the growth issues entrepreneurial companies face?

In terms of growth, one of the most important issue is the decission of letting investors get into your company as stakeholders or not. This issue will really determinate how the company is going to grow. This same issue will also take place further on when the company is big enough and you have to decide if an IPO will help you company growth or it is worthless.

Another issue  I would like to mention is the location of the company. There is a moment when the growth expectations of the company starts to decrease because the location of the company does not allow it to keep growing. In this case you will have to face the problem if it is worth to change the location to a place with better growth expectations or it might have to many risks for the company or even may be start to expand the company to other places to keep growing.