INTRODUCTION TO ENTREPRENEURSHIP
DEFINITION OF ENTREPRENEURSHIP
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[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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yield higher profit margins.
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provide owners a steady income.
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have lower start-up costs.
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require less technical training.
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Detailed explanation-1: -According to entrepreneurs, three factors are most important for enabling a company’s growth: access to markets, the supply of human capital (i.e. people with the right skills for the job) and access to funding.
Detailed explanation-2: -Keeping overhead costs low is a key driver of starting a business at home. Most startups are self-funded or family/friends funded-The vast majority of startup funds (82%) came from the entrepreneur himself or herself, or family and friends.
Detailed explanation-3: -Small businesses generate revenue that converts to local taxes feeding the local economy to create a better business within your community. This means your school districts, police forces and other small businesses and organizations will create a support system and reap the benefits of each others’ hard work.
Detailed explanation-4: -Reason 1: Achievement, Challenge, & Learning. Reason 2: Independence & Autonomy. Reason 3: Income Security and Financial Success. Reason 4: Recognition and Status. Reason 5: Family. Reason 6: Dissatisfaction with Current Work Arrangements. Reason 7: Community and Social Motivation. 27-Jan-2016