What is Entrepreneurship?

Why to be an Entrepreneur?
Entrepreneurship?
It is the process of planning,
designing ,launching and
running
a new business along with all possible
risks involved in order to make a profit.

Entrepreneur?
It is an individual who undertakes the
ownership of a process and risks
involved in it.
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Why to be an Entrepreneure?
 Characteristics of Successful
Entrepreneurs

Types of Startups
Characteristics of Successful Entrepreneurs

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Characteristics of Successful Entrepreneurs

 Aptitude
Aptitude means natural talent to do something.
Entrepreneurs apply their aptitudes to their
business ventures. Some aptitudes that could be
useful in an entrepreneurial venture are the
following:

Artistic Entrepreneurs
 Perspective Entrepreneurs
 Intellectual entrepreneurs
Source: https://www.javatpoint.com/aptitude/images/quantitativeaptitude.png
Characteristics of Successful Entrepreneurs

Integrity
Integrity is the personal
commitment to keep your
promises, to do what you say
you’re going to do and when you
say you’re going to do it.

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Characteristics of Successful Entrepreneurs
Customer Focus
Before starting any business, entrepreneurs look
for the market demand and what customers are
demanding. For any business, customer is the
main stake holder and if anything that a business
is producing doesn’t attract or meet the customer’s Customer
demand then that product generates no business.
Characteristics of Successful Entrepreneurs

Initiative
When an entrepreneur sees an
opportunity, he or she takes
the initiative. Initiative is the
readiness and willingness to
start a new enterprise.

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Characteristics of Successful Entrepreneurs

Risk Tolerance
It is the degree to which you
can comfortably accept taking
chances. Entrepreneurs need
to have a pretty high tolerance
of risks.

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Characteristics of
Successful Entrepreneurs


Vision
Entrepreneurs can visualize their end results or
goals. They have a vision of their success, and they
constantly work toward making it real.

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Characteristics of Successful Entrepreneurs

 Confidence
This is a key characteristic of
entrepreneurs. Their confidence can help
them work through setbacks and sell ideas
to potential customers and investors.
Sometimes this can be the confidence to
know when to ask for help.

Source: https://cjwalshblog.files.wordpress.com/2012/10/selfconfidence.jpg
 What is Startup?
A startup is a young company that is just beginning to develop. Startups are
usually small and initially financed and operated by a handful of founders or
one individual. 

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Types of Start-ups

Individual
Associate of partners(AOP)
Private Limited(pvt)ltd
Group of companies(GOP)

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Individual Startup

It’s a type of startup which is started

by a single person. It has no legal
existence without the owner. A single
person takes all the liabilities upon
him. Income and losses are taxed on the
individual's personal income tax return.

Source: https://www.truelancer.com/blog/wp-content/uploads/2015/01/26c5a69.jpg
 Associate of partners

It is a type of startup started by the partnership of two persons. Two persons sign
an affidavit and take liabilities upon themselves according to that affidavit.

Source: http://halfwaybacktrading.com/wordpress/wp-content/uploads/2013/11/twopartners3.png
 Private Limited (Pvt)LTD
A type of company that offers limited liability, or legal protection
for its shareholders but that places certain restrictions on its
ownership.

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 Ownership restrictions in (Pvt)ltd

• Shareholders cannot sell or transfer their shares without offering them first to
other shareholders for purchase

• Shareholders cannot offer their shares to the general public over a stock
exchange

• The number of shareholders cannot exceed a fixed figure (commonly50).

Group of Companies
It is a group of two or more companies being controlling by
a company or they are in a subsidiary.
Rules for controlling companies in a group
 Steps for starting a new company in Pakistan

Company
name Registration FBR for NTN
reservation

Chamber of Company is
commerce formed

Source: www.secp.gov.pk, www.fbr.gov.pk

Some (Pvt.) Ltd startups in Pakistan

Company Name Location

Open data systems (Pvt.)Ltd Lahore

Noman Internationals Gujranwala

FHIMS (Pvt.)Ltd Karachi

CAREEM networks Pakistan (Pvt.)Ltd Karachi

Source: https://eservices.secp.gov.pk/eServices/NameSearch.jsp
Bibliography
• http://www.businessdictionary.com/definition/private-limited-company.ht
ml
• https://
www.saica.co.za/DesktopModules/EngagePublish/printerfriendly.aspx?ite
mId=1784&PortalId=0&TabId=1444
• http://thssbusiness.com/business-10/chapter-13.pdf
• Entrepreneurship by Bruce R. Barringer, Chapter No.1
• Entrepreneurship by Robert D Hisrich, Chapter No.1