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Factors which are important for development of SME

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  • 1. Entrepreneurship and Important Factors for the Development of Small Business
    Presented by Group 6
  • 2. Content
    What is Entrepreneurship?
    Important Factors for the Development of Small Business
  • 3. Thank you so much !
    What is Entrepreneurship?
  • 4. Entrepreneurship
  • 5. 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
  • 6. Entrepreneurship
  • 7. Aspects of Entrepreneurship
    Identification of market opportunity
    Generation of new business idea
    Risk taking
    Creation of business organization
    Creative and innovative skill
  • 8. 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
  • 9. 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
  • 10. Thank you so much !
    IMPORTANT Factors for Small business Development
  • 11. 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.
  • 12. Factors
  • 13. 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.
  • 14. 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
  • 15. 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.
  • 16. Social
    Professions and large corporation sector lack empathy with small business, then it will be difficult for the sector to survive and grow
  • 17. Infrastructure
    Can make small business to startup and grow
    Not enough infrastructure can increase cost and be afraid to continue
  • 18. 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.
  • 19. Thank you so much !
    Thank You So Much
  • 20. Thank you so much !
    Q & A Section