Entrepreneurism
What are the risks?
Goal:
Goal:
Starting a new business involves many risks for entrepreneurs. They must consider many questions, such as the ones below:
- How are they going to get money to pay for the business?
- How are they going to make money while they're getting their business started? (If you aren't making money, you can't afford to live.)
- Are there enough people that would be interested in their product or business?
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Milton Hershey wanted to be a candy shop owner. 
He took risks, like borrowing money from his aunt, to start his business. Unfortunately, his first attempt at trying to own a successful candy shop did not work. After five years, he closed his store and began working for a confectioner. He took two more risks starting a candy business and failed. Although he was unsuccessful, he learned many things and began to do things differently. Finally, he opened a caramel business. This time he successfully produced caramels that were shipped to consumers throughout the U.S. 
Approximately ten years after starting the caramel candy company, Milton Hershey risked everything again. This time he hoped to produce good tasting, affordable chocolate. He sold his caramel business in 1900 for one million dollars. (That's a pretty big risk to take.) 
After finding the perfect formula and ingredients for his chocolate, Milton Hershey started the Hershey Chocolate Company. Soon it was growing faster than Milton could imagine. Since then, millions of chocolate bars, chocolate kisses, and other chocolate products have been produced by the Hershey Company. Today it is over 100 years old and still going strong. |
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It's important to consider the risks involved when starting a business.
- Will you have enough money to grow your business?
- Is there enough consumer interest?
- Is there too much competition among producers?
Some risks are great, but many businesses are worth the risk in the long run.