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• Entrepreneur


  Someone who takes on the risks and challenges of starting new businesses to generate profit
• The path to entrepreneurship is frequently treacherous, full of surprising turns, obstacles, and dead ends
• In the past, initiating a business was daunting, leading many aspiring entrepreneurs to fail due to their limited understanding of product creation or inability to purchase raw materials in large quantities for resale purposes
• Despite these challenges, many people start their businesses yearly to realize their dreams and meet societal needs
• Fast-forward to 2023 — there are now thousands or even millions of entrepreneurs worldwide
• The number of opportunities has exploded and multiplied, leading to the growth in entrepreneurship
• Entrepreneurship


  The process of creating, organizing, and operating a new business venture to generate profit while taking on financial risk
• Entrepreneurs


  • They introduce new goods, services, or concepts to the market to make a profit
  • They are willing to take on the risk of failure to achieve their goals
  • They think of ideas to captivate a particular market's interest
• Advantages of owning a business

  • Ability to work flexible hours
  • Make independent decisions
  • Be free from obligation to others
  • Have complete autonomy and power
• To be a successful entrepreneur, besides having a good idea and good reasons, it is essential to be curious about new knowledge and have the desire to explore the unknown
• An entrepreneur must understand that a journey laden with risk, hard work, sacrifices, and setbacks lies ahead
• Importance of entrepreneurship in society


  • Employment creation
  • Economic development
  • Technological advancement
  • Market dynamics
  • Socio-cultural changes
• Types of entrepreneurship

  • Agripreneurship
  • Buyer entrepreneurship
  • Ecopreneurship
  • Imitator entrepreneurship
  • Intrapreneurship
  • Large business entrepreneurship
  • Scalable startup entrepreneurship
  • Small business entrepreneurship
  • Social entrepreneurship
  • Technopreneurship
• Agripreneurship


  • Edita Aguinaldo Dacuycuy
• Buyer entrepreneurship


  • Tony Tan Caktiong
• Ecopreneurship


  • Jamico Yco Jamlang
• Imitator entrepreneurship


  • Bin Lin
• Intrapreneurship


  • Paul Buchheit
• Large business entrepreneurship

  • Ernest Cua
• Scalable startup entrepreneurship


  • Roland Navarro de Ros
• Small business entrepreneurship


  • Nericel Bonus
• Social entrepreneurship


  • Bryan Benitez McClelland
• Technopreneurship


  • Diosdado Banatao
• Small, Medium, and Micro-sized Enterprises (SMME)

  Any business activity or enterprise engaged in industry, agribusiness, and services, whether single proprietorship, cooperative, partnership, or corporation, whose total assets are inclusive of those arising from a loan but exclusive of the land on which the business is situated
• Technopreneurship


  Solves complex business problems and brings uniqueness and novelty to the business process by combining entrepreneurial skills and technology
• Diosdado Banatao


  • Worked for different tech companies and later excelled. He developed the first 10-Mbit Ethernet CMOS with silicone coupler data-link control and transceiver chip, the first system logic chipset for IBM's PC-XT and the PC-AT, and the local bus concept and the first Windows Graphics accelerator chip for PCs
• Types of Enterprise


  • Micro
  • Cottage
  • Small
  • Medium
• Sole Proprietorship


  It is initiated, organized, owned, and managed by a single person
• Sole Proprietorship


  • Easily created and terminated
  • Ownership and rewards in one person
  • Flexibility to changes
  • Minimum regulation and taxation
  • Unlimited personal liability
  • Limitations in capital
  • It ends when the owner dies or becomes seriously ill
  • Limited skills and capabilities
• Partnership


  Two (2) or more partners who co-own a business to make a profit
• Partnership


  • Pooling of resources
  • Ability to obtain capital
  • Incentive for each partner
  • Limited regulation and taxation
  • Unlimited liability – solitarily liable
  • Termination can happen
  • Difficult in reconciling personal or business interests
  • Problems in share liquidation
• Corporation

  Exist in contemplation of law; the business has its own identity separate and distinct from stockholders
• Corporation

  • Limited liability for stockholders
  • Legal entity protected by law
  • Ownership is transferrable
  • Obtaining capital is easier
  • Employee benefits
  • Right to vote for a significant decision
  • Legal formality and regulations
  • Costly and time-consuming
  • Separate taxation
  • Owner's potential loss of control in the business
• Cooperative


  A duly registered group of persons with a common interest to voluntarily join to achieve a lawful social and economic end
• Cooperative's Advantages


  • Open and voluntary membership
  • Democratic control by members
  • Education is mandated
  • Cooperation among members
  • Direct benefits to members and community
  • Tax privileges
• Entrepreneurial Competencies


  • Leadership
  • Articulate
  • Sociable
  • Adaptable
  • Collaborative
  • Multifaceted
  • Resilient
  • Proactive
  • Innovative
  • Risk-taker
  • Creative
  • Passion
• Extrinsic Motivation


  Motivating individuals to complete a task by offering rewards such as money, gifts, or treats
• Intrinsic Motivation


  People do the task at hand because they are passionate about the business
• Categories of Intrinsic Motivation

  • Achievement motive
  • Power motive
  • Affiliation motive
• • Limited interest in shares
  • Inequality of profit distribution
  • Pro-poor bias might deviate from the profit orientation


  Cooperative's Disadvantages