Buss 1 - Starting A Business.

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  • Created by: Sophie
  • Created on: 11-12-12 21:46


Enterprenuer characteristics.

  • Willing to take risk
  • Determimation and persistance
  • Passion
  • Relevant skills and expertise in specialist areas
  • Vision, creativity and innovation
  • Motivation

Motives for becoming an entreprenuer

  • Government encouragment
  • To make more money
  • Spots a gap in the market
  • To be your own boss and be able to control your own working hours - flexibility
  • Desire to use a skill or talent in a profitable way
  • To leave something behind for family
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Government support for new businesses

  • Government grants
  • Reducing barriers to raising finance
  • improving support for new businesses
  • Reducing the burden of regulations
  • Reducing taxes and trying to establish competitive business tax system

Entreprenuer - An individual with a business idea and who is willing to take risk to make the business succeed.

Enterprise - any business or organisation. The process by which new businesses are formed and new products/services are created and brought to market. Led by an entreprenuer.

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Generating and Protecting Ideas

Sources of business ideas

  • Spotting a difference in trends and anticipating the impact on peoples lives
  • Spotting a gap in the market for something new or something that can be improved on
  • Copying ideas from other countries
  • Scientific approach
  • Personal experience
  • Franchising

Ways of protecting ideas

Patent - An official document granting the holder the right to be the only user of a newly invented product or process.

Copyright - legal protection against copying for authors, artists.

Trademarks - Signs, logos, symbols or words displayed on a company's products and/or advertising, which distinguish its brand from its competitors.

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