1.5.2

• Entrepreneur - someone who sets up a business and takes risks in the hope of profit
• Entrepreneurial characteristics - the skills, quality or traits off the person starting a business e.g creativity
• Entrepreneurial motives - Factors that drives a person to start a business
• characteristics required for an entrepreneur:

  1. hard working
  2. creativity
  3. resilience
  4. initiative
  5. self-confident
  6. risk taking
• Entrepreneurial skills:

  • Communication
  • team working
  • problem solving
  • organisation
  • numeracy
  • IT
• Financial motives:

  • profit maximisation - making most amount of profit that bus can
  • profit satisfaction - making enough profit so bus keep running
• Non financial motives:

  • independency
  • flexibility
  • ethical reasons
  • social purpose
  • personal challenge