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    Entrepreneurshdfdfdf DFD

    Uploaded by

    Sameer Rijal
    fdfdsf;on ofjod oidjfndf oojdfmnd

    Copyright:

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    Overview of Entrepreneur and Entrepreneurship Entrepreneur ‘An entrepreneur is an individual who creates a new business, bearing most of the risks and enjoying most of the rewards. The process of setting up a business is known as entrepreneurship. The entrepreneur is commonly seen as an innovator, a source of new ideas, goods, services, and business/or procedures. Entrepreneurs play a key role in any economy, using the skills and initiative necessary to anticipate needs and bring good new ideas to market. Entrepreneurship that proves to be successful in taking on the risks of creating a startup is rewarded with profits, fame, and continued growth opportunities. Entrepreneurship that fails results in losses and less prevalence in the markets for those involved. > Apperson who undertakes the risk of starting a new business venture is called an entrepreneur. > An entrepreneur creates a firm to realize their idea, known as entrepreneurship, which aggregates capital and labor in order to produce goods or services for profit. > Entrepreneurship is highly risky but also can be highly rewarding, as it serves to generate economic wealth, growth, and innovation. > The way entrepreneurs file and pay taxes will depend on how the business is set up in terms of structure. Entrepreneurship Entrepreneurship is the ability and readiness to develop, organize and run a business enterprise, along with any of its uncertainties in order to make a profit, The more modern entrepreneurship definition is also about transforming the world by solving big problems like bringing about social change or creating an innovative product that challenges the status quo of how we live our lives daily. Types of Entrepreneurships 1.Small-Business ‘Small business entrepreneurship isthe idea of opening a business without turing it into a large conglomerate or opening many chains. single-location restaurant, one grocery shop, oF @ retail shop to sell your handmade goods would all be an example of say Scanned By Camera Scanner business entrepreneurship. These individuals usually invest their own money ns succeed if their business turns a profit, which they live off. They don't have outside investors and will only take a loan if it helps continue the business. 2.Scalable Business These are companies that start with a unique idea; think Silicon Valley. The hopes are to innovate with a unique product or service and continue growing the company, continuously scaling up as time moves on. These types of companies often require investors and large amounts of capital to grow their idea and reach multiple markets. 3.Large-Company Large company entrepreneurship is a new business division created within an existing company. The existing company may be well placed to branch out into other sectors, or it may be well placed to become involved in new technology. CEOs of these companies either foresee a new market for the company or individuals within the company generate ideas that they bring to senior management to start the process. 4.Social Entrepreneurship The goal of social entrepreneurship is to create a benefit to society and humankind. They focus on helping communities or the environment through their products and services. They are not driven by profits but rather by helping the world around them. Wage Employment Wage employment includes any salaried or paid job under contract (written or not) to another person, organization or enterprise in both the formal and informal economy. » He is working for an individual, or in a business firm, in an office, in a factory, or in a shop. » Heis known as an employee and for whom he is working is said to be his employer. » He is being paid by his employer the remuneration for his work, » He works as per the terms and conditions laid down by the employer. Scanned By Camera Scanner > Self-Employment Aself-employed person does not work for a specific employer who lage ae consistent salary or wage. Self-employed individuals, or independent contrat ee oo income by contracting with a trade or business directly. In most cases, the paye! Ris withhold taxes, so this becomes the individual. Self-employed persons may bei oe in a variety of occupations but generally are highly skilled at a particular kind of work Writers, tradespeople, freelancers, traders/investors, lawyers, salespeople, a insurance agents all may be self-employed persons. > Those who are self-employed work solely for themselves and contract directly with clients. > Self-employment may not be subject to tax withholding, so those who are self- employed are responsible for paying their taxes. > Suapanen ch proce a great deal of job flexibility and autonomy; however, it also comes with a greater degree of employment risk and a more- volatile income. If-Et Wage Employment Self-Employment 1 _| The status of the individual is that of an | The status of the individual is that of an employee. owner and employer. 2_| The individual works for another. The individual works for self. 3 | Income is in the form of salary or wage. | Income is in the form of profit. 4 |Earing is limited. It is mostly|The scope of earning is unlimited. It predetermined and fixed having| depends upon the capability and regular increments. contribution of the individual. 5 | The nature of work is mostly routine |The work involved is flexible and except where one must take | depends on what the individual wants to independent decisions on policy and | do. strategic matters. 6 | Entire supervision and control lie with | The individual controls and supervises the employer. his own work. Scanned By Camera Scanner Business The term business refers to an organization or enterprising entity engaged in commercial, industrial, or professional activities. The purpose of a business is to organize some sort of economic production (of goods or services). Businesses can be for-profit entities or non-profit organizations fulfilling a charitable mission or furthering a social cause. Businesses range in scale and scope from sole proprietorships to large, international corporations. Business also refers to the efforts and activities undertaken by individuals to produce and sell goods and services for profit. > A business is defined as an organization or enterprising entity engaged in commercial, industrial, or professional activities. > Businesses can be for-profit entities or non-profit organizations. > Business types range from limited liability companies to sole proprietorships, corporations, and partnerships. > Some businesses run as small operations in a single industry while others are large operations that spread across many industries around the world. > Apple and Walmart are two examples of well-known, successful businesses. ‘Synopsis of types and forms of enterprise Enterprise refers to a for-profit business started and run by an entrepreneur. And we will often say that people running such businesses are enterprising. An enterprise is a profit- oriented business or company. Some may strike a balance between profit, social and environmental, as social enterprises do. 1.Sole proprietorship: A sole proprietorship refers to a business structure owned and operated by an individual. It does not result in a separate entity. So, the assets and liabilities of the business are entirely in your hands as the owner. You are fully responsible for the operation and success of the business. You have unlimited liability for any business risks. So, you may have to sell personal assets to pay off company debt. But, if your business is successful, the profit of the business is entirely yours. You do not have to share it with others as ina partnership or only get a portion (dividends) as in a limited company. Scanned By Camera Scanner 2.Partnership: The ownership of the business is under two or more parties (partners). They work together to form and run a business. Each partner contributes differently depending on the agreement. Unlike sole proprietorships, partnerships _allow for the pooling of greater resources and capabilities. Each partner can bring certain resources, including capital and expertise, to lead the business to success. In addition, business risk is also spread among partners. Likewise, profits must also be shared between them, the proportion depending on the partnership deed. 3.Private limited company: A private limited company implies a separate business organization from the owners (shareholders). It is an incorporated business, unlike sole proprietorships and partnerships. The owner assumes limited liability and is not personally liable for the financial and legal obligations of the business. So, when businesses have difficulty paying debts, they don't have to pay off using their personal money. And, if the company closes, they only lose some of the money they invested in the company. The owner does not operate the business directly. Instead, they appoint a board of directors to run the business, expecting the directors to act in their best interests. 4.Public limited company: A public limited company has similar characteristics to a private limited company. The difference between the two lies only in whether the company’s shares are available to the public for trading or not, Public limited companies list their shares on the stock exchange. So, people can trade it. In contrast, private limited companies do not. Then, shareholders in a public limited company have the potential to get dividends and capital gains. When the company's stock price rises, they can sell it and realize a profit. Next, public limited companies are usually more transparent because they are bound by regulations. For example, they must regularly publish their financial statements. Scanned By Camera Scanner rbudes to be 99 entrepreneur No entrepreneur Succeeds In every business Venture. Every Successfud entrepreneur “fost ak least once HE Hoe teolce, Ots entrepreneurs learns from and ufitize there failures , hoveven, ‘1s tohet Matters oecquse ‘in. antreprentursh) p ,attitude IS everthing. 1. Passion Sere Should be passionate about their. dead , ROUS ,of Course, ther Companies The passion Is What drives theny to olo wWhar-thedr alo. some . : entrepreneur Love the adventure and KE tment of creating | Somer) Neg ANA VNce TEs C&tablished +he loose’ Interest Ghol move on to something else. Other ere pr feel passionate about the product Hey are construct or the Sense of Gecom plishment ie fe because mG Know they are helping sther people or ae she. lanet. atever weed driver individu dry to Succeed is ooh his/her paasion tes anc the. passien \s voteairor to entrepreneuriat tre. 2. Braver Entrepreneur, like everyone else, feel fear. Th are fearful thos Ae ape eed or fearful a weh- Conceived idea canhot be executed Ther Lo not owever lop these fears of failure clefine them. are brave. . ceo lena from failure . The oblize th fear of -farit to hush themselves 40 coon Warder and to Strive 40. q cortect the misiake +h se have caused then to fail. entrepreneurs neeet mm ple Outern pts to Create g euctdcsfut company Roe) 6 eave that Aiyves dpe eee, pursae Success, Scanned By Camera Scanner a. exible pkrepreneurs 2% erence setbacks. There 5 Ye NOt eve es hurdles fo overcome on Journe a handles changes OF cuanto well HoGever Srireprentuds Out Peses (exible mindset So they’ can alder. Course thar ceemns 40 be heated foiootds Ffoalure. Flexible entreprencurs shoud be aware thot They maye have to mock the route towards thelr are Seoeak, that establishes d ool, oF even oe zou, in o ty reach it Succ SSFUMY. G. Work Ethics TL is nt easy 40 Start from the round up ond become 0 successful usiness Owner. mai hows of hard} Work, frusiralion , Ray) and Sypervister are poureal into a Me ventue - Tf Your are oot a 4 up a Week, and work hard ev! A Cec y es 8 thon how can oe pact sucess) NO guccessf uk leu ness is created §ulo on abil OF Withok Strife. S. Integrity . Entrepreneur must be able 4o show others +the are truthful ahd honest. Re ardless of the busikess hope to establish , ok. Us eds the: aed Jnvestors rust Haat ther There \s no W around this - entrepreneurs must be trusted, and trust must be earned. The best business \dea in the World ogitt ket : foil\f an untrustworthy person \s ob 4 Respond ne Suppliers need 40 hs +hot . for goods va have Shipped oli arrive on Eaee Scanned By Camera Scanner Characteristics to be an entrepreneur 1) Creativity: Creativity gives birth to something new. For without creativity, there is no innovation Possible. Entrepreneurs usually have the knack to pin down a lot of ideas and act on them. Not necessarily every idea might be a hit. But the experience obtained is gold. Creativity helps in coming up with new solutions for the problems at hand and allows one to think of solutions that are out of the box. It also gives an entrepreneur the ability to devise new products for similar markets to the ones he's currently playing in. 2) Professionalism: Professionalism is a quality which all good entrepreneurs must possess. An entrepreneur's mannerisms and behavior with their employees and clientele goes a long way in developing the culture of the organization. Reliability results in trust and for most ventures, trust in the entrepreneur is what keeps the people in the organization motivated and willing to put in their best. Professionalism is one of the most important characteristics of an entrepreneur. 3) Risk-taking: A risk-taking ability is essential for an entrepreneur. Without the will to explore the unknown, one cannot discover something unique. And this uniqueness might make all the difference. Risk-taking involves a lot of things. Using unorthodox methods is also a risk. Investing in ideas, nobody else believes in but you are a risk too. Entrepreneurs have a differentiated approach towards risks. Good entrepreneurs are always ready to invest their time and money. But they always have a backup for every risk they take. 4) Passion: Your work should be your passion. So, when you work, you enjoy what you're doing and Stay highly motivated. Passion acts as a driving force, with which, you are motivated to Scanned By Camera Scanner Strive for better. It also allows You the ability to put in those extra hours in the office which can or may make a difference. At the beginning of every entrepreneurial venture or any venture, there are hurdles but your passion ensures that you can overcome these toadblocks and forge ahead towards your goal. 5) Adaptability: The nature of business is ever-changing. Entrepreneurship is an iterative process, and new challenges and opportunities present themselves at every turn. It's nearly impossible to be prepared for every scenario, but successful business leaders must be adaptable. This is especially true for entrepreneurs who need to evaluate situations and remain flexible to ensure their business keeps moving forward, no matter what unexpected changes occur. 6) Decisiveness: To be successful, an entrepreneur must make difficult decisions and stand by them. As a leader, they're responsible for guiding the trajectory of their business, including every aspect from funding and strategy to resource allocation. Being decisive doesn't always mean being correct. If you want to be an entrepreneur, it means having the confidence to make challenging decisions and see them through to the end. If the outcome turns out to be less than favorable, the decision to take corrective action is just as important. Skills Required to be an Entrepreneursh ip 1.Business Management Skills: Successful entrepreneurs will most often rel run a business or brand. Developing your building up your ability to multitask, deleg making decisions regarding the health and ly on their business skills to manage and business management skills can mean jate responsibilities to subordinates and Profitability of your business, Scanned By Camera Scanner 2.Communication and Listening Skills: Business owners and entrepreneurs should also develop effective communication skills. From active listening to discussions during meetings, being able to communicate effectively can help you work with others to build your business. Likewise, effective communication can also translate to how you promote awareness of your brand. For instance, effective and clear messages through emails, content marketing, social media and other advertising methods can positively influence how you reach your target market. 3.Customer Service Skills: No matter the industry you venture into as an entrepreneur, you may still need to develop effective customer service skills. From talking with potential clients to discussing opening partnerships, effective customer service skills can help you connect with your customer base and ensure your brand is providing the products or services your market needs. 4.Financial Skills: Owning a business can also mean taking care of the financial aspects of your organization. You can develop financial skills by learning from a financial planner, reading financial guidebooks and using financial software to help you organize and keep track of the financial processes in your business. 5.Technical Skills: Because of the availability of software Programs for financial analysis, planning, marketing and other business processes, it can be extremely beneficial to develop your technical skills. Entrepreneurs with efficient technological skills can use software and other digital approaches for Managing projects, ¢ tracking sales and revenue and measuring the performance of business growth, Scanned By Camera Scanner PF. ths about enkfeprencars L. Entrepreneurs are _@orm . Good peop ple often cusurne thot successful Sha oe are born with certain Leardership . e& and talents. However the trust 1s thar int any nig Canbe on entreprenear tf they learn Hhose nec Skills, Yes, people have Some a, rUi+ e8 “thas! loco t+hern to foe more. flexible , However, there \S no rule that ony people barn with certaln, quatkes can Start a iness. IN Short, Entreprencutum 1s not a NMoturat-born ee oe You aeed to be the Most Unique - ee days there s a ressure 40 be unique because vt hi Bere SQve eae start se sa Yet en | | Keep! wp fodllin ae | rnatel ee demon ee pea to Bin oe use feel Wi a clot have unique ice. However, +he' Doak is shoudnt foess en Starting a” unique. bus iness> “tnsteadt , focus On AOn ing worth- adhile to aro sour business S abit hin 4D\S wore - nee care such af, Google Wad NOt the first Search oe ever. Just robe one better. pues what ood) available eek then. The Sarne 8 +he case cory Apple There are SO Many phone maxers , uk there . tout ith they are better tharInnost competitors. wont be Successful af an Entreprenun because. ‘ Ce are +00 ea OF ems true ot att because a: doune ar san entre reneurShip World. “Tt \g bedterto eon y beca ou WII learn fovea) begne elecil and cone Necessarily meee eo i sed as people Older than je who have, Scanned By Camera Scanner i corporate Structures fora decade or tea worked i9 Set antares OP re oad You ar Youn, A o inexperienced The same god with ben, ean oo ek TRere Ys common noyth that Fou P Successfut IN Starting o business . LOever- , accord to Numerous Studies Gmiaetle-o A people. have @ MUucR. better chance Of succeedin 1a lousingss oe VF +h have experience iNVthe area. 4, You Need a perfect Business plan nd success - TRere is no Such a thing as be aches roduct or a perfect puslness pldd ete. There a CorMmon saying among entreprenurs ,\' perfection ys the ener oloneY TF you walt to create a P or plan Sr product therQare high chances that- ou tol have to coott forever and atcomplish nothing. gost et cautah wlth the Iclea of ben, perfect. rst hg TOKO. roost of vohet ee ate! olesody Rot 5, You can. 40 att the way Solo. Yea ae the boagin' ot Startu Le mate Sense +o voorkatone- HO ee cant go sdlo and expect our oe TOO Bb a. st nak Yate. The. equirment roattiple Will Increase a8 YOu go ahead. You can, Start a business atone, bub tou ae need extra hands, Lifferent tatents etc to Keep it geing - Your team can be the ke) go need to gee fia company. ane achelve Sdcass, Scanned By Camera Scanner You woltt have to Give Up personat Ufe to become. an _ Entrepreneur. You may. have seen people. teiti Ngee how ontrepreneurs ork Long ho f aap UMique to business odhers, Several corporate executes na ee WOrk, be: ond thar overgfe week! aigerenced is entrepreneurs are opih hours. The driven b& AASION ANA have COntro| over thelr Sehedul&! AS a entrepreneur, You may also cont mind eoorktn: per 60 or to hours a Geek: Holemevers Yh loesnt m cadt have private ne .TES at 1 level and choices. About jes lect Entrepreneur enly Care. are! peur would Start a business Well, ge »Oo0 enh with zero nkensien +o a profit However, oe mis cone Nandak 0 Ws the only mov: ae ¥sh\ P ee aed. Arous a yf atreary sabi , ban to make ends meet ,and livin bie MO are alisa Seeoeetend ‘en the Is ore ees renurs. MHI monsy can bean affect : factor , Goat fou or the. Route canna Yes the Beh G Yrmportant ae for entrepiénu Entrepreneurs Reports to Noone - No, lets dispose the idea +h ou wiitbe a fy Our existence ok ou become an entreprenu ey Peete ero) rain oat Or business nus, Al {nanerl itor con) ete char entrapreneur UNO 48 thelr OWN loos - All of us have kommeone we report to. TN any cade., Your our naw Koss. TF YOu are \nto bus\ness voll peters louse Our Custorney- od11\ be Your Q ee Youse fun, ou ‘Vnvestors be dbane. boss . oO our bat! And the Jour we Tuthless , heartless, nd olemancd with zerd vai No Such para cid SAF ben Cot bn ae TRere \¢ Scanned By Camera Scanner " g. Entrepreneurs Need solid Network rd this conrmon You have probab) hea Saying. Te oboesst sa wohot you known, bu woh uw NOLO." Hocoevers, HF you nt 40 be o gucce fut |enboprencur odr1let that myth Stop you. Th thots the 7c, then how can you ee lain a eratien Worniarants Fino success? Tm nhs. First Ger penCcorme to New nies volkhno network o 4o find Sucess o§ nection «Sil, thes areas ket ch ag you védize. thot netuoork, Hen ,you wil be a connectedness Ate MHSCONG forced to vely Upon ot deterrsimahen Ghd grit and. Not Some Sapte Net . TE wll then power” to BPO and run ther si See Start ae ow) co to. Reok Enbrepreneucss cont Quit This probably the bya mis concept 07 around ae aeons thas ahs eee tee a A ae Oe a an thie However not 1 1 ‘Or THaps Vt TES Not at aut baol to have an Nig Bei ons ae Yt Ns Wiser anal creat to foresee a Fone lure cornn) our Uo nob ex} , 1 a Gee ou aoe ag) Q it Sa: Anel it Nan; Successful entrepreneurs tery. CY al ke thro Ath ent \cheas before thoy fina om ON Suse be Be it Walt DiS oTK. Re a Mark cuban, Hen o ford and Numekbus others: peeple experience forldr Cee OE a Tt Ws a Common part of an ¥ e S You Land anything , tt edt gee powerfat. and sata Vests, U ae Scanned By Camera Scanner J overvecs Of MSMEs (Micro, Small and MeUurn Enterprises ) in Nepat Micro, Smo and mediurn-Sized enterpris CMSMes) play a Vibrant role in the economic growth and employment of o ny country . Globatty , & accounts fore more sn! soper Ont of Jobs and contribute +0 atleast as percent OF Gop. MsMeE olevelopment ‘sab \gh priont -for Overment in both develop\ yy and amiolea @ nies, Re Micro, SMAall an sector has emerged of o Aaynarmic and Way vivacku Sector ef the Nepalese Orhas contributed signifi €cono cantly. to the Seana and souat development the coantry lo a promohny es neurship @7 en Le emplo Spportunitics. e devi hr mA 5 and chan in Frac strucure over me contribute to employ eneration, market expansion and economic grocth. yg Study aSsesses ther access 40 finance wm Various Sources and the effectiveness of the eee financial Infrastructure » policies and mechanism to rovide o condudve

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