Entrepreneurship

The Meaning of Entrepreneurship Roots of the word come from the Latin word “prendere” and the French word “prendre” which means to take Entrepreneurs take hold of opportunities when they arise Take a calculated risk to start a business that fulfills the needs or wants of people

Entrepreneurship The creation and building of a venture to fill a market niche

Characteristics Profit – Entrepreneurial ventures are usually thought of as for profit Their goal is to make income for the owner – There are more and more Non-For-Profit entrepreneurial ventures starting everyday A result of a socially responsible generation Size – Usually start small and grow larger

Entrepreneurship Service/Goods – Lawn Care vs. Clothing Physical/Virtual – Bricks and Mortar – actually have a store for people to visit – E-Commerce – The business is conducted online – Many do both

Entrepreneurship Local/Provincial/National/International – For this course we will mostly talk about local businesses – Provincial – Entrepreneurs take their business to similar markets in their own province – Globalization – has enabled businesses to compete internationally Mostly due to the ease of doing business over the internet

Entrepreneurship at BCI Activity: BCI has decided to have a student marketplace Just like the Brantford Market downtown, we will have various stalls and booths available to be used.

Entrepreneurship at BCI Get into groups of 4: Think of possible business opportunities at BCI You can’t open a store that sells food to students (no competition for the cafeteria) What needs do you have as a student of BCI that isn’t being met? Brainstorm a good business idea and everything that would be involved in starting it up