1. Enterprise
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2. Entrepreneurs and enterprise
Entrepreneur is a term we hear often, but what do entrepreneurs do?
Entrepreneurial activity is called enterprise; being an entrepreneur is about having the desire and skills to set up a business.
Some people set up a business on their own after being employed by another company, whereas others might start a new business as soon as they leave school or college.
Teacher’s note: Suggested answers include; to make more profit than could be earned in employment; as a result of being made redundant or being unable to find work elsewhere; to have greater independence.
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Why do people set up their own businesses, rather than work for another firm? 2

3. Entrepreneurial skills
Teacher’s note: As well as confirming and adding to students’ own ideas, this slide could be used as a basis for discussion as to what these skills mean and why they are important for creating a successful business.
There are many skills and qualities that are useful when attempting to set up and run a successful business. Some of the most important include:
- showing initiative
- being able to plan ahead
- enthusiasm and work ethic
- persistence and determination when times are hard
- ability to raise finance and manage cash flow
- ability to take calculated risks.

4. Quiz Teacher’s note: Answers: Easy: A profit The Bank of England
Electronic Point of Sale
An entrepreneur
Fixed assets
Businesses will raise their prices
Medium:
Start-up costs
Private sector organizations
Innovation
Base level interest rate
Internal
Enterprise
Hard:
Manageable
Consumer Protection Act
Statutory rights
Security systems
Race Relations Act
The leader of the opposition