Enterprise and Entrepreneurs Mindmap
The Characteristics and Motives of an Entrepreneur
Government Support for an Entreprise
Teacher recommended
?- Created by: abiseddon
- Created on: 03-02-16 12:04
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- Entrepreneur
- Courage and Initiative
- Understanding of the market
- Determination
- Passion
- Persuasive abilities
- Ability to cope with risk
- 1. Considers what they think will happen and what will happen different
- 2. Foresee other possibilities so that plans can be made
- 3. Compares all the risks with the possible rewards and makes a considered decision
- People who aren't entrepreneurs
- Are very cautious-never want to take risks
- Assume that things are the way they have to be
- Like to be sure of their pay cheque
- Good Entrepreneurs
- Take calculated risks, weighing up potential risks and rewards
- Launch new ideas in response to changing consumer tastes of attitudes
- Accept that the early days of a new business may be tough, so try to minimise spending
- Bad Entrepreneurs
- Ignore risks-assume that own charisma/skill will guarantee success
- Rush to bring in something new or make huge changes
- Trust that things will go as planned, second freely at the start as they are sure that money will start flowing in tomorrow
- Motives for becoming an entrepreneur
- Looking for a challenge
- To prove oneself
- To gain greater satisfaction
- To gain control over working life
- Spotted an opportunity
- Building on experience as employee
- Made redundant
- To make money
- Couldn't find a job
- Government support for enterprise
- Only 2% of businesses get funding through grants given by the government
- Does the government do enough to help entrepreneurs (funding, regulations etc) - most new entrepreneurs use their own savings and plenty of their own time
- Business Link Network: offered free advice to those starting up plus a free consultation with an expert nominated by business link
- Quality of advice is variable
- 2010 - Business link network replaced by online only advice to cut expenditure
- Wants to continue the long-standing policy to encourage an "enterprise culture" to create a spirit among young people that "enterprising is cool"
- More people starting businesses - economy will develop dynamically
- Only 2% of businesses get funding through grants given by the government
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