enterprise

• Entrepreneur


  Individual who starts and runs a business.
• Profit


  Financial gain after expenses are deducted.
• Innovation


  Introduction of new ideas or products.
• Risk Taker


  Willingness to invest capital in uncertain ventures.
• Job Creation


  Process of generating new employment opportunities.
• Economic Impact


  Influence of entrepreneurs on economic growth.
• Needs


  Essential requirements for survival and well-being.
• Wants


  Desires for improved quality of life.
• Primary Sector


  Extractive industries producing raw materials.
• Secondary Sector


  Manufacturing and construction industries.
• Tertiary Sector


  Service industries providing non-physical goods.
• De-industrialisation


  Decline of manufacturing industries in an economy.
• Competitiveness


  Ability to offer products at competitive prices.
• GDP Contribution


  Sector's share in the total economic output.
• Technological Advancement


  Improvements in technology affecting employment.
• Market Changes


  Shifts in consumer preferences and demands.
• Entrepreneurial Characteristics


  Traits like ambition, creativity, and perseverance.
• Government Taxation


  Revenue generated from business profits.
• Education System


  Institutional framework preparing workforce for jobs.
• Hi-tech Manufacturing


  Production using advanced technology and innovation.
• Balance of Payments


  Difference between exports and imports of goods.
• Consumer Demand


  Desire for goods and services by consumers.
• Employment Sectors


  Divisions of the economy based on job types.
• Entrepreneurial Vision


  Forward-thinking perspective driving business innovation.
• Market Opportunities


  Potential areas for business growth and profit.
• Service Sector Growth


  Expansion of industries providing services.
• Limited Resources


  Scarcity of materials affecting production capabilities.
• Ambition


  Strong desire to achieve success in business.
• Proactive Approach


  Actively adapting to changes in the market.