Reasons to start your own business:
- Profit Motive
- Self-employment/ income
- Own boss
- Carry on a family business
- Personal Satisfaction/ ambition/ develop hobby
- Social Enterprise - community business, e.g. village stores, pubs, post offices
- Public sector - provides a service e.g. schooling and the NHS
- Private sector - main goal is money e.g. apple. Sometimes private organisations provide a service e.g. oxfam, as their goal is to make as much money as they can.
- Non-profit organisation - Is an organisation which focuses a goal such as helping the community.
- Profit organisation - Is an organisation that's main goal is to make money.
PrS- private sector
PubS- public sector
Entrepeneurs and Enterprise
Entrepeneur- A entrepeneur is a person that starts a successful business from scratch.
Enterprise- The skills + abilities to take risks and create profits. The creation of a business to meet the needs of it's clients.
Three potential disadvantages for someone leaving paid employment to start his or hers business for the…