Day: January 27, 2022

Identification of a business idea Development of a business plan Location of a business demand evaluation Registration of the business Choice of the business organization Business name Trading licences / permit Start-up and management of the business. All entrepreneurs are Read More …

Richard Cantilon An entrepreneur as a person with foresight and competence to operate in conditions on uncertainty. Richard was a particular about an entrepreneur being a person who performed in uncertain environments because the market demand is not perfectly predictable Read More …

Culture is defined as asset of values, perceptions wants and behaviour learned by a member of a society from family and other institutions Culture is a tool of leaned behavior patterns of living. It is a powerful human tool for Read More …

The development plan laid down proposed to implement small scale industrial policy Review the central and local government regulations that a hindrance to entrepreneurial development. Provision of direct assistance to the small scale businesses all over Kenya. Establishment of an Read More …

Interest in the development of entrepreneurship and small enterprise in Kenya gained momentum as a possible remedy to the stagnation of economic development and the escalating unemployment problem between the early 1960 and 1970s Although there were attempts by the Read More …

Innovation or creativity or novetty refers to the process of devising a new idea, or thing or improving an existing idea or thing. Innovation like all human activities has a cost as well as benefits Innovation turns new concepts into Read More …

Challenges of a bidding entrepreneur long working hours poor pay unclear future fear of loosing all that has been invested bankruptcies and closure Other challenges Fear of delegating the problem do it your self and know it all competition by Read More …

Financial gains Self-employment which leads to job satisfaction and flexibility Provide job opportunities to the unemployed or those seeking better jobs. A means of opening up new industries especially in the rural areas facilitating globalization A source of generating income Read More …

Initiative and risks taken by; Doing things before being asked or forced by events Acts to extend business in to new areas products etc Sees and acts on opportunities Looks for and takes action on opportunities. Sees and acts on Read More …

Several theories have been developed to explain why entrepreneurs behave the way they do. There has been debate on whether entrepreneurs are born or made Born-hereditary, entrepreneurs are environmental influenced by where they are born. These are; Economic The theory Read More …