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Planning and Financing A Business > Enterprise > Flashcards

Flashcards in Enterprise Deck (4):
0

Characteristics of a successfully entrepreneur

-determination
-motivated
-risk-taker
-expertise

1

Why do business fail?

-lack of finance
-shortages of knowledge and skills
-poor infrastructure

2

Opportunity cost

The cost of a decision measured by the benefits foregone of the next best alternative

3

Why become an entrepreneur

-govt encouragement
-want for money
-independence
-provide employment