Definition of an entrepreneur
1. An entrepreneur is a person who identifies a business opportunity, harnesses and obtains the resources necessary to initiate a successful business activity.
2. The entrepreneur implements the idea
3. Undertakes to operate the business
4. An entrepreneur is therefore a central key individual in the society who makes things happens for economic development.
Entrepreneurship meaning
1) In the broader sense entrepreneurship refers to the means of stimulating innovative and creative undertakings for a better business community or world.
2) The act or process of identifying business opportunities and gathering the necessary resources to initiate a successful business activity.
3) Entrepreneurship is a French word meaning to undertake and focuses on a business enterprise
4) Entrepreneurship can exist in any situation – therefore it is the creation of values through establishing a business enterprise.
5) Entrepreneurship means having an idea of one’s own and trying to implement the idea to create values on it.
6) Entrepreneurship is a term which encompasses what entrepreneurs do i.e
1. Identifying a business opportunity of a particular demand
2. Look at the opportunity as a process of creating, something that did not exist.
3. Constantly searching/ harnessing ones environment and resources to implement the activities.
4. Creating a totally new product and using it in as new.
7) Entrepreneurship there is the practice of starting a new business or revitalising existing businesses in response to identifying opportunities.
Self-Employment
1. Working independently and earning a living from it.
2. This is a concept that arises when the entrepreneur relies on revenues from his business as a source of income
3. A business undertaking by an individual for the purpose of making a profit.
Factors impeding the growth of Entrepreneurship
1. High taxation levels
2. Corruption and official harassment
3. Unregulated competition from outside countries
4. Decline in personal incomes
5. The high cost of finance
6. Lack of entrepreneurial culture
7. Poor transport and communication networks
8. Lack of skills and knowledge
1. An entrepreneur is a person who identifies a business opportunity, harnesses and obtains the resources necessary to initiate a successful business activity.
2. The entrepreneur implements the idea
3. Undertakes to operate the business
4. An entrepreneur is therefore a central key individual in the society who makes things happens for economic development.
Entrepreneurship meaning
1) In the broader sense entrepreneurship refers to the means of stimulating innovative and creative undertakings for a better business community or world.
2) The act or process of identifying business opportunities and gathering the necessary resources to initiate a successful business activity.
3) Entrepreneurship is a French word meaning to undertake and focuses on a business enterprise
4) Entrepreneurship can exist in any situation – therefore it is the creation of values through establishing a business enterprise.
5) Entrepreneurship means having an idea of one’s own and trying to implement the idea to create values on it.
6) Entrepreneurship is a term which encompasses what entrepreneurs do i.e
1. Identifying a business opportunity of a particular demand
2. Look at the opportunity as a process of creating, something that did not exist.
3. Constantly searching/ harnessing ones environment and resources to implement the activities.
4. Creating a totally new product and using it in as new.
7) Entrepreneurship there is the practice of starting a new business or revitalising existing businesses in response to identifying opportunities.
Self-Employment
1. Working independently and earning a living from it.
2. This is a concept that arises when the entrepreneur relies on revenues from his business as a source of income
3. A business undertaking by an individual for the purpose of making a profit.
Factors impeding the growth of Entrepreneurship
1. High taxation levels
2. Corruption and official harassment
3. Unregulated competition from outside countries
4. Decline in personal incomes
5. The high cost of finance
6. Lack of entrepreneurial culture
7. Poor transport and communication networks
8. Lack of skills and knowledge
