2. 1

3. Definitions Enterprise & entrepreneurship are key concepts ascribed to business activity They define the initiative (and the initiator) for setting a new business venture, based on ideas and innovation Business entities of small and medium size comprise an almost full majority (out all entities) 2

4. Enterprise Enterprising refers to “spotting opportunities, creating new ideas and having the confidence and skills to turn these ideas into working realities” (Wetherly&Otter, 2011) It involves varying degree of risk It requires dealing with uncertainty It rests upon creativity and innovation skills Enterprising increases competitive advantages (with the same set of resources) Social vs. Commercial enterprises 3

5. Entrepreneur A person who initiates new business or enterprise (commercial or social) Entrepreneurs are opportunity seekers, who deal with uncertainty and risk May or may not be the business owner: Social entrepreneur – staring an enterprise with a social objective Serial entrepreneur – starting many enterprises Intrapreneur – employee of a very large corporation acting as an entrepreneur 4

6. NCGE - Concepts Enterprise Concept – developing the personal enterprising skills Entrepreneurial Concept – applying the enterprising skills to new/existing ventures Innovation Concept – the final improved product/service 5

7. NCGE Leadership Concept 6 (Source: NCGE – Leading the Entrepreneurial University, 2009)

8. Social Identity Theories 7 (Source: http://www.bsl-lausanne.ch/index.php/eng/content/download/2021/34648/file/FauchartGruberAMJ_Oct2011.pdf)

9. Total Entrepreneurial Activity (%) 8

10. What is SME? Small and Medium sized Enterprises are the driving force behind economic growth A competitive market economy can only function with numerous players 99% of business enterprises in the EU are SME SME produce 50-70% of total turnover and provide 60- 70% of the jobs 9

11. Features of SME Pros Contras Flexibility Less responsibilities Less bureaucracy Tailored to meet local needs Liquidity problems Hardly accumulate resources Hardly influence the environment Lack power in negotiations Lack of managerial talent Lack of carrier opportunities 10

12. Starting a business Stage of growth 11 Idea Proven Idea Planning & Development Ready to start Trading Growth Decline / bankrupt Lifestyle Sell Expand Time Investment

13. MAIR model Motivation & commitment How committed are they to starting a business? What are the driving forces? Are they courageous enough to take the risks? Have they clear goals? Does running a business match their personal and family needs? Abilities & skills Have they the skills to run a business – marketing, accounting, negotiating? Have they good awareness of their own strengths and weaknesses? Have they other necessary attributes – independence, hard-working? Are they really good at the core skill of the business (eg web-site design)? Can they put together a good business plan? Idea Have they a feasible idea for a business? If not, have they thought how they will find one? Does the idea address a gap in the market? Will the product or service actually sell? Resources Can they find the tools, premises, supplies etc the business will need? Can they survive initially on a very low income? Can they find the staff and subcontractors they will need? Can they build up the necessary networks around them? 12 + Plan & Strategy and Organization & Administration (Source: http://www.hanage.com/ncge/Advice.htm) http://www.hanage.com/ncge/Advice.htm

14. SME in the UK SizeN of companies (000) N of employees (mln) Turnover £ (bln) 1-9 4 50099%7,633%65222% 10-491760.6%3,314%44215% 50-249270,3%2,611%40614% 250 +60,1%9,342%1 49449% Total4 700100%23100%2,994100% 13 (Source: Wetherly&Otter, 2011)

15. SME in BG 14 SizeN of companiesN of employees (000) Turnover leva (bln) 1-9337 14791,8%644 31%4723% 10-4924 368 7%481 23%4723% 50-249 4 6621%447 21%4723% 250 +7520,2%509 25%65 31% Total366 929100% 2 081100%206100% (Source: www.nsi.bg 2011)

16. Business sectors (BG) 15 Trading Professional, scientific and technical activities Hospitality services Manufacturing

17. Business sectors (UK) 16 Construction Real Estate & Renting Trading Social & Personal Services

18. Female entrepreneurship 17 (Source: Global Entrepreneurship Monitor 2008)