Entrepreneurship Act of being entrepreneur Define as a process Searching out opportunities in the market place Arranging resources required to exploit these opportunities for long term gains Planning, organizing and assuming
Aspects of Entrepreneurship Identification of market opportunity Generation of new business idea Risk taking Creation of business organization Creative and innovative skill
Advantages of Entrepreneurship Freely Self satisfaction Increase income and self-esteem Set own work schedule and control own fate Full use of skills Become a leader in the community
Disadvantages of Entrepreneurship Potential loss of income Long and irregular working hours Take fully responsibility Stress Time away from family and friends Risk of financial and business failure Emotional energy Necessity for strong self-discipline
Thank you so much ! IMPORTANT Factors for Small business Development
Small Business Make important contributions to economic and social development. Not only create job opportunities but also play a wider role in social, economic and political development. Major engine of growth in production.
Policy Government’s policy encourage small business to engage in legitimate activity. Other official policies for small business development can be evaluated against their impact upon start-up, survival and growth of small business.
Economics Change constantly and providingopportunities for new businesses. Encourage a high rate of business start up and survival. As the example, Exchange rate Banking system Taxation Privatization
Education Reward individual as well as collective initiative and innovation in all its citizens. Lack empathy with small business will be difficult for the small business. Important step towards the creation of such a culture lies in education.
Social Professions and large corporation sector lack empathy with small business, then it will be difficult for the sector to survive and grow
Infrastructure Can make small business to startup and grow Not enough infrastructure can increase cost and be afraid to continue
Which Institution can provide? Many business related institutions in Myanmar such as UMFCCI etc. Organizations and associations need to help the small business Related ministry should provide the help to them.