Business AS (1)

Entrepreneurs and enterprise.

Entrepreneurs come up with ideas.

Enterprise – process by which new businesses are formed and new products and services are bought to the market.

Entrepreneur – person that has the idea. They take the risks and their profits or losses that come with the successes or failures of the venture. – They are prepared to take risks – rewards can be huge.

Failure occurs for a number of reasons –

v  lack of finance - money

v  poor infrastructure – all the things that support your business eg . lack of shops, people around

v  skills shortage

v  complexity of regulations or red tape – government, and rules you have to follow.

Successful entrepreneurs:

Richard branson, alan sugar, james khan, bill gates ect.

Motivation for starting a business

Needing jobs, after being made redundant

Passionate about their hobby

Wanting…