Enterprise Definitions

Definitions for enterprise

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  • Created by: Gabriella
  • Created on: 06-12-10 15:24

Enterprise

Skills and abilities to take risks and make a profit. A combination of attitudes and skills that turn an idea into a reality, and meet the needs of the consumer.

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Entrepreneur

A person who organises, operates and assumes the risk for a business venture.

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Skills and attitudes of an entrepreneur..

-Confident

-Passionate

-Energetic

-Driven

-Realistic

-Determined

-Good financial knowledge

-Visionary

-Results orientated

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Non-financial motives for starting a business..

:) -Hobby

:) -More control over working life (your own boss)

:) -Need for flexible work

:) -Frustration with unfulfilled potential

:) -Boredom

:) -Satisfaction from building something

:) -Dislike bureaucracy of hierarchy

:) -Change in personal circumstances

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Why is enterprise IMPORTANT??

JOB CREATION: Over 400,000 new businesses are started each year.

STIMULATES INVESTMENT and INNOVATION through RISK taking.

ENTREPRENEURS enable an ECONOMY to respond to changing global conditions- businesses pay substantial taxes and encourage competition in markets.

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Government support

 

* Information, advice, support

*Reduce burden of regulation (Red tape)

*Encourage innovation and job creation

*Incentive for investment-tax breaks

*Financial support

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Types of government support...

Princes trust..

BusinessLink.co.uk...

Companies house..

UK trade and investment..

BERR(Supports growing business + enterprise)

Government grants..

Regional development agencies-improves economic activity.

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Comments

Tom Meldrum

Thanks for this

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