ENTREPRENEURSHIP AND ITS IMPORTANCE

Learning objectives
 State the meaning of entrepreneur, enterprise and entrepreneurship
 List the characteristics of an entrepreneur
 Explain self-employment
 State and explain the factors that facilitates self-employment
 List and explain the importance of entrepreneurship
Keywords: enterprise, self-employment, innovations, ideas.

Entrepreneur: an entrepreneur is a person who is able to think of, see or identify opportunities
that do not exist at great financial risk for a profit.
Entrepreneurship: This is the capacity and willingness to start and manage a business venture
by taking risk in order to make profit.
Enterprise: An enterprise is an organization or business created for commercial purposes.

Characteristics of an Entrepreneur
1. Determination
2. Commitment
3. insight
4. Brainstorming
5. Creativity
6. Perseverance
7. Toughness

Self-Employment: this is the operation of a business as a sole owner or partner. It therefore has
to do with working for oneself.

Factors that facilitate Self-Employment

1. The natural environment
2. The social environment
3. The economic environment
4. Government policies

Importance of Entrepreneurship
1. It provides employment for a lot of people
2. It creates wealth for nations and individuals
3. It brings about personal growth and experience
4. It brings about self-satisfaction
5. It contributes to research and development.