Entrepreneurship and Small Business Management in the Hospitality Industry

Book excerpt: Small businesses are the backbone of the tourism and hospitality industry and, depending on which statistics one uses, represent somewhere between 75 to 95 percent of all firms globally in this sector. The number of entrepreneurs has dramatically and uniformly increased globally over the last ten years. Divided into four sections, Entrepreneurship and Small Business Management in the Hospitality Industry takes an intuitive step-bystep progression through each stage of the entrepreneurial process: context, theoretical perspectives and definitions; Concept to reality; The business plan; Growth and the future. Ideal for students at any level, the chapters of this book invite you to ponder upon your reading through a series of ‘reflective practice’ activities. These, along with case studies, clearly defined chapter objectives, reflections, role-play activities and experiential exercises, allow you to both think actively about themes, concepts and issues and then apply them to a number of suggested scenarios. Perfect preparation for the up-and-coming entrepreneur!