The Bank of America has been building on its existing small business lending portfolio over the past years. By running a successful business, the entrepreneur will be helping the local community by keeping the local economy stimulated, ideally with local dollars and local jobs. However, stimulating the economy alone is not enough for most self aware and successful entrepreneurs. Most are entrepreneurs because they want to be their own cook when it comes to the food business they eat, and that includes both the way they operate their business and the way they make a difference in the local community. It is that perspective that allows a successful entrepreneur to work within a philosophy that he or she believes in, and to put passion into the work that he or she does. For example, sometimes having success means walking away from high yield possibilities in order to keep one’s integrity intact, for the greater long term business good.
In view of these changes, it is important that the definition of entrepreneurship be refined or redefined to enable its application in this 21st century. To put it succinctly, “Good science has to begin with good definitions (Bygrave & Hofer, 1991, p13).” Without the proper definition, it will be laborious for policymakers to develop successful programs to inculcate entrepreneurial qualities in their people and organizations within their country. Once you get the card, DON’T charge the entire available amount because that shows up on your credit account as a high balance. Many multinationals have offices abroad in various countries they cater to. Currently, with the expansion of the internet, even small organizations can reach a global audience in a small amount of time and little investment.