Date of Award

5-2016

Degree Type

Thesis

Degree Name

Departmental Honors

Department

Accounting

Abstract

What resources are available to the new entrepreneur? How do I know if my business idea is a good idea? What are the tax advantages of starting your own business? My research answers each of these questions in addition to many other questions the new entrepreneur might have. Part of my research insights were gained by experiential learning: I took a business idea of my own and took it through several key processes such as business idea generation, business model creation, market research, and advertising. I sought to learn more about the resources available to the new entrepreneur. In addition to the experiential process, l conducted traditional research by reviewing articles, research journals, books, and other materials that can help the new entrepreneur. In summary, it is extremely easy for the new entrepreneur to develop a business idea, conduct surveys, engage with customers, create a website, advertise online, and reap numerous tax advantages. Such tax advantages include increased deductions to income and tax-free income payments to the taxpayer's children for their help in business operations.

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Faculty Mentor

Chris Fawson

Departmental Honors Advisor

Shannon Peterson

Capstone Committee Member

Eric Schulz