ENTREPRENEUR : CAN YOU BE ONE?
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Source
An Entrepreneur is a person who takes a business risk. He takes financial risk and dictate the pace of the business.
Entrepreneurship is the willingness and the ability of an individual to seek out investment opportunity,establish and run a business outfit successfully. It can also be seen as the process of bringing together creative and innovative ideas and combine people, money,and resources to meet an identified need and thereby create wealth.
CHARACTERISTICS OF AN ENTREPRENEUR
- He must be resourceful and creative
- Discovering new sources to improve their enterprize
- Enjoy a comparative in terms of supply cost and quality
- Organizer, coordinator of factors of production (land,labour,capital)
- Create goods and service with initiative and self confidence
Entrepreneurship; Sole propraetorship form of Business
Advantages
- easy to form : it does not need strict formality and legal processes
- ownership: no bottled service affect him. He work for longer hours including sunday if he want
- decision: it id taken quickly,since the propraetor does not need to consult and inquire from anybody
- policy formulation: he formulate all policy that make for internal and external
- nature: the nature of it attract less tax because he doesnt disclose his income.
- law: no law compel the owner to submit his account balance sheet to cooperate affairs
- privacy: no body enclouch the running of the business internally or externally etc.