Enterprise

• Primary sector - provide food , farming and supply power we need through mining/ extracting oil
• Secondary Private sector - provide us with consumer goods. E.g. processing foods, manufacturing cars , clothes ( satisfy our needs)
• tertiary sector (service sector) - private companies that provide Gym , offering advice financially , transport services
• Why people start own business ?

  • to gain profit
  • turn a hobby into a business
  • be your own boss
  • to use redundancy money
• Needs - things we Need in our daily life - food, heat , water
• wants - things people desire / would want to have. E.g. Phone (not essential)
• Entrepreneur - someone who starts and runs a business
• Key characteristics of entrepreneur

  • being a risk taker
  • taking initiative and be proactive
  • be an effective and organiser
  • have creativity and innovation
  • hard working
  • determined and have a perspective