Entreprise - Unit 1 - BUSS 1

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  • 1. Enterprise
    • enterprise is and important concept that is being actively promoted by the UK government
    • reinforced interest in starting up a business from seeing people succeed i.e Dragons den, The apprentice
    • Failure
      • Lack of finance
      • Skills shortages
      • Poor infrastruvture
      • Regulations/Red Tape
      • Entrepreneurs are willing to take risks if the rewards are good enough
        • Carried out appropriate research
    • Characteristics of a successful Entrereneur
      • Relevant skills
      • vision, creativity and innovation
    • Opportunity Cost
      • The real cost of taking a particular action or the best alternative for gone
    • Motives
      • long term low interest rates = easy to borrow
      • Change in Political Climate
      • Increasing affluence
        • try to fill gaps in their lives
    • Government support for entrepreneurs
      • Government have tried to make it easier to start up and run a business
        • Reducing business taxes
        • reducing regulatory burden on businesses
        • reducing barriers to raising finance
        • improving support for small businesses
        • promoting a change in the UK's enterprise culture
        • encouraging businesses to start up in deprived areas of the UK
        • Introducing legislation to promote competition
        • funding projects to raise awareness f entreprise
        • reviewing how to encourage unemployed people to move into self-employment
        • giving financial support to voluntary and not for profit organisations

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