Entrepreneurs

• Entrepreneur - someone who takes risks of enterprise activity in hope of a reward
• An entrepreneurs must be able to do:

  1. Organise resources
  2. Take risks
  3. Make business decisions
• 3 risks of entrepreneur:

  1. Financial loss - if business doesn't make profit they may lose money they invested and might struggle to pay back the money they borrowed
  2. Little job security - they might have quit their job to start the business and if it fails thy could lose money and become unemployed
  3. Failure - if the business fails they would have wasted time, money and effort they put in
• 3 rewards for entrepreneurs:

  1. Success - get satisfaction from seeing their ideas being successful
  2. Profit - might make more money than in their previous job
  3. Independence - they can choose what they do each dat and what direction the business goes in