BS-Enterprise, business growth and size, pages no 19-20
Enterprise: Enterprises are typically large, complex organizations with various divisions and departments managed by a board of directors or an executive team.
entrepreneurship: Entrepreneurship is the ability and readiness to develop, organize and run a business enterprise, along with any of its uncertainties in order to make a profit.
What are the benefits-and possible disadvantages-of starting up your own business. They are:
Advantages:
Independence- Able to choose how to use time and money.
Able to put own ideas into practice.
may become famous and successful if the business grows.
maybe profitable the income might be higher than working as an employee for another business.
able to make use of personal interests and skills.
Disadvantages:
Risk- Many new entrepreneurs businesses fail, especially if there is poor planning.
Capital-Entrepreneurs have to put their own money into the business and, possibly, find other sources of capital.
Lack of knowledge and experience in starting and operating a business.
Opportunity cost-Lost income from not being an employee of another business.
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