Entrepreneurship

• types of ventures -startup companies, small businesses, middle market companies, and large businesses
• Private companies may include family- owned businesses, sole proprietorships, partnerships, and small to medium-sized enterprises (SME).
• A limited liability company (LLC) is a business structure that offers limited liability protection and pass-through taxation.
• The four P's of entrepreneurship, as I see them, are passion, persistence, perseverance, and preparation.
• Financial feasibility is the evaluation of a project or business to determine if it is economically viable and if it can generate a satisfactory return on investment.
• Technical Feasibility - The ability of an idea to be implemented using existing technology.
• Organizational Feasibility - The ability of an organization to implement the idea successfully.
• Market Feasibility - The ability of an idea to satisfy customer needs and wants.
• Legal Feasibility - The compliance with legal requirements and restrictions.
• Environmental Feasibility - The consideration of environmental factors such as sustainability and resource conservation.
• Social Feasibility - The impact of the idea on society and its acceptance by stakeholders.
• A franchise is a business where by the owner licenses its operations—along with its products, branding, and knowledge—in exchange for a franchise fee.