Entrepreneurship Notes
What is an Entrepreneur?
An entrepreneur is a person that creates a business idea, organizes, manages and takes the risk of
opening a business.
What are the pros and cons of being an Entrepreneur?
Pros:
- The profit of the business goes to you.
- You are your own boss.
Cons:
- The majority of start up businesses do not last beyond five years.
- There are risks.
What are characteristics of an entrepreneur?
Characteristics:
- Determined
- Creative
- Able to take risks
What needs to be considered before opening a business?
Considerations:
- The type of business (sole proprietorship, llc, partnership etc.)
- Demand for product/ service
- The Competitors
- Labor conditions
- Regulatory conditions
- Market conditions
What is an Entrepreneur?
An entrepreneur is a person that creates a business idea, organizes, manages and takes the risk of
opening a business.
What are the pros and cons of being an Entrepreneur?
Pros:
- The profit of the business goes to you.
- You are your own boss.
Cons:
- The majority of start up businesses do not last beyond five years.
- There are risks.
What are characteristics of an entrepreneur?
Characteristics:
- Determined
- Creative
- Able to take risks
What needs to be considered before opening a business?
Considerations:
- The type of business (sole proprietorship, llc, partnership etc.)
- Demand for product/ service
- The Competitors
- Labor conditions
- Regulatory conditions
- Market conditions
