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SME PERSONAL QUALITIES (ENTREPRENEURSHIP (BURDENS (must accept the…
SME PERSONAL QUALITIES
QUALIFICATIONS
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tertiary courses available for knowledge and understanding of what is required to successfully own and operate an SME
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SKILLS
EXPERIENCE
apart from well-developed management skills, a person with hands-on experience will have a greater chance of achieving business success
the experienced person will understand and be realistic about the demands, both financial and personal, that a business will place on them
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MOTIVATION
personal drive, determination, desire to achieve a goal
desire to transform an idea into a successful product by capturing the attention of potential customers
most business owners motivated by the rewards gained from establishing a business - monetary and non-monetary
ENTREPRENEURSHIP
must be prepared to take risks and incur the results of the risk, whether it is success or failure
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CULTURAL BACKGROUND
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cultural influence can arise from centuries of experience in certain trades or services, enabling a person to use this knowledge to achieve business success
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