ENTREPRENEURSHIP

DEVELOPMENT
SDV 210
Jamilu Bala Hamza
What is
Entrepreneurship?
Entrepreneurship is both
the study of how new
businesses are created as
well as the actual process
of starting a new business
– the term is used
interchangeably. An
entrepreneur is someone
who has an idea and who
works to create a product
or service that people will
buy, by building an
organization to support
those sales.
Who is an
Entrepreneur?

❖ An entrepreneur is someone
who organizes, manages, and
assumes the risks of a
business or enterprise. An
entrepreneur is an agent of
change. Entrepreneurship is
the process of discovering
new ways of combining
resources.
 Why be on your own?

The main reasons entrepreneurs go out on their

own, rather than staying employed, are:

❖ Control – to be their own boss

❖ Ambition – to start something from scratch
themselves
❖ Financial – opportunity to earn more money
 What Kind of Business to Start

Finding a need or opportunity in the market and filling it is at the core of entrepreneurship
and small business success. That doesn’t mean that starting a business like one already in
existence can’t be successful, however.
In considering what kind of business to start, assess:
❖ Your interests
❖ Your financial resources
❖ Unmet market needs
❖ Problems you can solve
❖ Your network and connections
❖ Your background and experiences
Self employment
 Enterprise

Enterprise simply refers to; profit business or company, but it is

usually associated with entrepreneurial ventures. People who have
entrepreneurial success are always referred to as “enterprising.”

It is usually a venture that reflects an initiative or high-risk taking

ability of the entrepreneur.