DR SURENDRA KUMAR TIWARI

1. Dr SURENDRA KUMAR TIWARI
PRINCIPAL GULAB BAI YADAV
SMRITI SHIKSHA
MAHAVIDYALAYA BORAWAN

2. What are your
expectations from today’s
session?
Take out your
classroom device
Find your seat
As you come in and get settled, follow these
instructions:

3. Type 2 things you already know about today’s topic:

4. What do we call a person who
invests his money, assumes risks
takes efforts to set up his business?

5. Definition of an Entrepreneur
An entrepreneur is an individual who creates a new business, bearing
most of the risks and enjoying most of the rewards. The entrepreneur is
commonly seen as an innovator, a source of new ideas, goods, services,
and business/or procedures. ADAM HAYES
https://www.investopedia.com/contributors/53677/

6. Definition of Entrepreneurship
•Entrepreneurship is defined as “ a systematic
innovation, which consists in the purposeful and
organised search for changes, and it is the systematic
analysis of the opportunities such changes might offer for
economic and social innovation.” – Peter Drucker

7. Entrepreneurship explained

8. Drag your dot to how you are feeling:
Keep going, I understand I’m a little confused Stop, I need help!

9. Features of
Entrepreneurship

11. Advantages of Entrepreneurship
•To the individual
-Provides self employment
-Provides an employment and livelihood for
next generation as well
-Freedom to use own ideas – innovation and
creativity
-Unlimited income
-Independence
-Satisfaction
•To the nation
-Provides larger employment
-Results in wider distribution of wealth
-Mobilises local resources, skills and
savings
-Accelerates the pace of economic
growth
-Stimulates innovation and efficiency

12. How to set-up a business?

13. Steps in setting up a Venture
● Discover your business opportunity
● Size of the business firm
● Decide the nature of project – selection of the right
product, prepare business plan, select the right
location, conduct feasibility study, prepare project
profile
● Prepare business constitution

14. Steps in setting up a venture
● Registration of business
● Obtain licenses – trade, pollution control board, urban
land ceiling, sales tax registration, central excise
registration, agricultural land conversion, building
plan approval

15. Steps in setting up a venture
● Decision on location
● Law and order situation in the locality
● Labour relations in the state
● Infrastructure facilities
● Incentives of the govt.

16. Steps in setting up a venture
● Proximity to sources of raw material
● Proximity to the market
● Skilled workforce availability
● Social infrastructure like hospital, education

17. Steps in setting up a venture
● Machinery, equipment and layout
● Financial planning
● Physical facilities
● Tax planning
● Organisation structure

18. Steps in setting up a venture
● Launching the enterprise – acquiring land,
construction of building, purchase of machinery,
arrangement of tools and equipment, actual conduct
of production on trial basis
● Periodic review

19. Thinking time…..
How important is it for an entrepreneur to have a proper business
plan in place? Also what are the elements of a business plan?

20. Start a Mind Map by drawing or typing anywhere:
Central Idea

21. Finance for the venture

22. What is the name of the capital
which is invested by wealthy
investors in businesses called as?

24. Types of Capital
•Fixed capital is invested in fixed or long run assets. The amount
of fixed capital needed, varies directly with the amount of the
fixed assets owned or used by a business. – B.O. Wheeler
•It is the amount of funds necessary to cover the cost of
operating the enterprise. Working capital in a going concern is a
revolving fund, it consist of cash receipts from sales which are
used to cover the cost of current operations - Shubin

25. Types of Fixed capital

26. Types of Working Capital

27. In one minute,
write the most
important thing from
today’s
lesson. thanks