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ENTREPRENEURSHIP - Coggle Diagram
ENTREPRENEURSHIP
Types of organization :red_flag:
sole trader
a self-employed person who and runs their own business as an individual.
As a trader, you have absolute control over your business, its assets and profits after tax
partnership :
two or more people own and manage the business
public limited company
is a business that is managed by directors and owned by shareholders.
can offer shares to the public.
franchise
is a business where by the owner licenses its operations along with its products, branding, and knowledge in exchange for a franchise fee
The franchisor is the business that grants licenses to franchisees.
private limited company
LTD is a type of privately held small business entity.
nonprofit organization
The YMCA is an NPO - a non profit organization - that focus on youth development
Examples of nonprofit organizations include hospitals, universities, national charities, churches, and foundations.
Challenges and Opportunities :red_flag:
Opportunities
Expanding beyond traditional boundaries and tapping into global markets through international trade, cross-border e-commerce, and digital platforms
Engaging with government initiatives, policies, and funding schemes that foster entrepreneurship, innovation, and small business development.
Leveraging emerging technologies such as artificial intelligence, and the Internet of Things to innovate products, services, and business processes
Challenges
Securing initial capital for startup costs, product development, and operational expenses can be challenging, especially for first-time entrepreneurs.
Difficulty in accessing traditional funding sources such as bank loans or venture capital, particularly for ventures perceived.
Addressing competitive threats from emerging startups, disruptive technologies, and new market entrants.
ENTREPRENEUR :silhouettes: :
who creates and more businesses, bearing most of the risks and enjoying most of the rewards
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
