The Entrepreneur An entrepreneur is a business person who runs and owns a Business. They often work for long hours and less money per hour than if they were employed by someone else. Richard Branson’s grannie gave him some advice "You've got one go in life, so make the most of it."

Entrepreneurship Why do they go into business? DEVELOPS IT, SHOWS ENTERPRISE IDEA ENTREPRENEUR                                                                                                                                                                   The entrepreneur is prepared to finance it and take the RISK. The willingness to push forward and take risks is called ENTERPRISE

E Traits N T R E P R E N E U R

Why do people start their own business? Be their own boss Good idea Have been made redundant Do not like present job Hobby they want to develop Have skills but can’t find a job

Ideas come from? Hobby brainstorming Listening to people What do firms do badly? Spotting a ‘gap’ in the market Solving problems Opportunities

Objectives of a Business SURVIVAL MAXIMISE PROFIT GROWTH INCREASE MARKET SHARE LEAD THE FIELD QUALITY EFFICIENCY IMPROVE CONDITIONS

Aims Depend On Type of business Business sector Level of competition Type of product they produce

Different Sectors Sector Aims/objectives Private Public Charity

STAKEHOLDERS A person/group who has an interest in a business and the way it is run. SHAREHOLDERS OWNERS MANAGERS EMPLOYEES BUSINESS LOCAL COMMUNITY CUSTOMERS PROVIDERS OF FINANCE SUPPLIERS GOVERNMENT FINANCE