Enterprise business growth and size-3

Question 1

Who is an entrepreneur?

Answer 1

A person who organizes, operates, and takes risks for a business is called an entrepreneur.

Question 2

What does the hard work characteristic say about an entrepreneur?

Answer 2

It states that an entrepreneur is supposed to take short holidays and long working days to make his business successful.

Question 3

What is it like to be optimistic as an entrepreneur?

Answer 3

The entrepreneur has to look forward to the future and not only think about failure.

Question 4

Why does an entrepreneur need to be an effective communicator?

Answer 4

An entrepreneur needs to be an effective communicator because it helps get loans from banks and talk to investors and customers. This helps raise the business’s profile.

Question 5

What is a business plan?

Answer 5

A business plan is a document containing the business objectives, important details about operations, financial details, and details about the business owners.

Question 6

What are the benefits of being an entrepreneur?

Answer 6

1. Independence: the ability to use your time and money how you like.
2. You can put your own ideas into practise.
3. You will have a higher income than employees.
4. You can make use of your own personal interests and skills.

Question 7

What are the disadvantages of being an entrepreneur?

Answer 7

1. Many new businesses fail if there is no proper planing.
2. Entrepreneurs have to spend their own money for buying capital.
3. Lack of knowledge will lead to a failure.
4. Loss of income from not working as an employee of another company.

Question 8

How many sections are there to a business plan?

Answer 8

There are 7 sections to a business plan.