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Rewards and Risks of Being an Entrepreneur

Assuming you have what it takes to be in business, the next step is to determine whether or not you are willing to accept the rewards and risks of being an entrepreneur. You should first weigh the advantages and the disadvantages. Being in business can be on the one hand most rewarding and fulfilling, and […]

Personal Characteristics of Entrepreneurs (Part 1)

Personal Characteristics of Entrepreneurs   The entrepreneur has attracted the attention of social scientists. If so – that they are important to economic growth – then it follows that the tribe of entrepreneurial members of society should multiply. But first, they should be identified. Are you one of them? Entrepreneurs are those described as: v  […]

The Role of an Entrepreneur

DO YOU HAVE WHAT IT TAKES TO SUCCEED IN BUSINESS? From what you have read about the strengths and weaknesses of a small business, you can see the crucial importance of the role played by the owner-manager – whom we would now better call “entrepreneur.” The entrepreneur is the most important person in the business. […]

Weaknesses of a Small Business

On the other hand, there are major constraints and weaknesses that have to be addressed in order to make small businesses stronger and more competitive. These constraints include: v  Marketing in small businesses is characterized by competitors selling a large number of similar products mostly to small local markets, resulting in small sales and narrow […]

Strengths of a Small Business

The government defines a small business based on how much the business owns (asset size) and the number of people that work for it (employment) for purposes of rationalizing assistance and incentives to business enterprises. In terms of asset size, a small enterprise has capital assets between P3 million to P15 million. In terms of […]

Chapter 1: Starting A Small Enterprise (DTI MSME Guidebook)

Are you one of those thinking hard of going into business for reasons of your own? v You are a young person who wants a job but rejection after rejection of your job application has given you no hope of landing a job in the near future, v An employee, who is tired of the […]