Business studies - Starting a business- section 1 (AQA)

All the stuff you need to know about Enterprise!

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  • Created by: Ethan
  • Created on: 11-04-11 12:39


Entrepreneurs Take Advantage of busienss opportunities

Enterprise involves identifyingnew business opportunities,and thentaking advantage of them.there is always a risk of failure ,but the reward is a massive amount of money in your pocket!!

Entrepreneurs can set up a business or help an existing business to expand bycoming up with new ideas.

the busines idea is usualy an idea that nobody elso has thought of.they want to provsie that product or service and want customers to buy it.they have spotted the gap in the market

  • Take risks. Setting up a new business is risky. Even if the entrepreneur has carefully researched the market, there's always a chance that customers may reject the product and that a loss will be made.
  • Entrepreneurs need qualities           leadersship skills
  • the ability to think ahead                  a willingness to take calculated risks
  • initiative                                            an ability to plan carerfuly 
  • drive and determination                    the ability to learn from their mistakes
  • decisivness networking skills
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Enjoy :)

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