TOPIC 1

ENTREPRENEURSHIP
What is entrepreneurship?
It is the capacity and quality of an individual in effectively and efficiently managing a business towards
customer satisfaction and profitability of services. It sees opportunities and makes the best of them. It is
putting good use of something that otherwise may become wasted.

Who is an entrepreneur?

He is the individual who.is self-confident, optimistic, flexible, and receptive to changes. He prefers
independent work, is creative, innovative, and versatile. He takes problems as challenges. He likes to
take moderate risks. He has persistence, perseverance, determination, drive, and high level of energy.

What are the advantages of having your own business?

You are your own boss. your time is yours alone. some of your current personal expenses can be tax
deductible. You fulfill many of your dreams. you can employ jobless friends, relatives, and other
dependent. io, do something that you really enjoy. You can meet many interesting people. you can
never be fired from your own business. You can become rich through your own business. You develop a
high reputation or status in the community. you do not have to wear a daily office uniform anymore.
You can plan your daily activities by yourself and chart your future.

What are the disadvantages of having your own business?

You will need to spend more time in your business. You will no longer receive regular paychecks. You
will incur more unexpected expenses. You will do most of the work by yourself with minimal support
from others. You become the government's collector for income and value-added taxes.

How can entrepreneurship be developed?

1. Get interested in creating something useful.

2. Use your creative capacities to the fullest by being sensitive to the beauty and needs in your
environment.

3. Desire to be self-reliant rather than depending on others.

4. Be aware of the sources of good money in your community.

5. Scan the material/natural resources in your environment.