This document defines entrepreneurship and outlines the key characteristics of successful entrepreneurs. It discusses that entrepreneurs take risks to start and manage businesses to generate profits. Successful entrepreneurs are risk takers, perceptive, curious, imaginative, persistent, goal-oriented, hardworking, self-confident, and flexible. The document also examines the entrepreneurial process, importance of entrepreneurship in South Africa, challenges facing entrepreneurs in South Africa, and different types of entrepreneurs such as women, youth, and social entrepreneurs.

1. Entrepreneurship
EXPLORING MORE ABOUT IT

2. What is an Entrepreneur?
An Entrepreneur (ahn’tra pra nur)
is a person who organizes and
manages a business undertaking,
assuming the risk for the sake of
profit. Any person (any age) who
starts and operates a business is
an entrepreneur.

3. Characteristics
Being an entrepreneur requires specific characteristics
and skills that are often achieved through education,
hard work, and planning.
Risk Taker
Businesses face risk. Entrepreneurs minimize risk
through research, planning, and skill development.
Perceptive
Entrepreneurs view problems as opportunities and
challenges.
Curious
Entrepreneurs like to know how things work. They take
the time and initiative to pursue the unknown

4. Characteristics Continues…..
Imaginative
Entrepreneurs are creative. They imagine solutions to problems
that encourage them to create new products and generate ideas.
Persistent
True entrepreneurs face bureaucracy, make mistakes, receive
criticism, and deal with money, family, or stress problems. But
they still stick to their dreams of seeing the venture succeed.
Goal-setting
Entrepreneurs are motivated by the excitement of staring a new
business. Once achieved, they seek out new goals or ventures to
try.
Hardworking
Entrepreneurs need a great deal of energy to see a venture start
and succeed. Yet they are not deterred by the long hours to
achieve their goal.

5. Characteristics Continues…..
Self-confident
Entrepreneurs believe in themselves. Their self-confidence takes
care of any doubts they may have.
Flexible
Entrepreneurs must be flexible in order to adapt to changing
trends, markets, technologies, rules, and economic environments.
Independent
An entrepreneur’s desire for control and the ability to make
decisions often makes it difficult for them to work in a controlled
environment.

6. Advantages and disadvantages of
entrepreneurship
•Merits of being an entrepreneur
• What is beneficial to you about being an
entrepreneur?
• You reach your full potential
• You reap profits
• You contribute to society and are recognised
for your efforts
• You gain control over your own destiny

7. Reasons why entrepreneurs
succeed or fail
•Management skill
•Experience
•Financial control
•Changes in the business
environment

8. THE ENTREPRENEURIAL PROCESS
 Identify and evaluate the opportunity
– Techniques to generate ideas
– Feasibility study
– Viability study
– Market size
– Window of opportunity
 Develop the business plan
– Important for managing the resources required
– Essential if one needs funding (finance)
– Helps reduce risk

9. Determine the resources required
– Capital
– People
– Physical and intangible assets
– Resources determined by the cash flow
projection in the business plan
 Start and manage the enterprise

10. THE IMPORTANCE OF ENTREPRENEURS
IN SOUTH AFRICA IN SOUTH AFRICA
 Entrepreneurship as a critical solution:
– Low economic growth
– High unemployment
– An unsatisfactory level of poverty
– Choosing entrepreneurship as a career
– Entrepreneurship and the informal sector
– If the customer does not buy, the entrepreneur does
not live
– Relationship between entrepreneurship and economy
– Multi-faceted and complex
 Small, medium and micro enterprises (SMMEs)

11. Stages of entrepreneurial growth

12. Entrepreneurial relationships
Entrepreneurship often involves managing
relationships with other companies:
 Corporate venturing – investing externally in new
ventures thereby protecting early-stage ventures
from internal bureaucracy and by spreading risk.
 Spin-offs (or spin-outs) – the generation of small
innovative units from larger organisations.
 Ecosystems – fostering communities of connected
suppliers, agents, distributors, franchisees,
technology entrepreneurs and makers of
complementary products.

13. Social entrepreneurship
Social entrepreneurs are individuals and
groups who create independent
organisations to mobilise ideas and
resources to address social problems,
typically earning revenues but on a not-
for-profit basis.

14. Social entrepreneurship
decisions
 Social mission
 Organisational
form
 Business model

15. CHALLENGES FACING ENTREPRENEURS
SMMES IN SOUTH AFRICAFood Social Entrepre
 Lack of start-up and expansion finance
 Access to markets and gaining market
credibility
 Access to appropriate technology
 Access to human resources (managing
people)
Food Social Entrepreneurship

16. Other barriers faced by South
African entrepreneurs
– The lack of entrepreneurial skills, awareness
and preparedness amongst entrepreneurs
– Lack of respect for and recognition of the
contribution made by entrepreneurs u South
Africa
– Forecasts, which are rarely accurate
– Sub-optimal infrastructure, which is impairing the
culture of entrepreneurship in South Africa
– Everything taking longer than planned

17. FOCUSINGONDIFFERENTLABELS FOR
ENTREPRENEURS
 Women entrepreneurs
– Types of women entrepreneurs
– Barriers facing women entrepreneurs
– Success factors of women entrepreneurs
 Emerging entrepreneurs
– Survivalist and micro enterprises (the informal
sector)
 Characteristics of the informal sector
 Central categories of informal business
 Characteristics of informal and
survivalist environment
– Opportunity and necessity entrepreneurship

18.  Youth entrepreneurs
– Usombuvo Youth Fund
– Young Entrepreneur South Africa (YESA)
– Entrepreneurship as a subject in schools’
syllabuses
– Student Enterprises Trust

19. Entrepreneurship and certain industries or
sectors
– Technology entrepreneurs (Technopreneurs)
 Four types of entrepreneurship in the context of the
technology entrepreneur:
 Small Enterprises Development Agency (SEDA)
– Social entrepreneurs
 Definition according to Dees (1998: 4)
– Tourism entrepreneurs
– Opportunities: accommodation sector of industry,
transport industry and man-made attractions

20. THANK YOU

21. REFERENCES
• CHAPTER1.pptx(protected view)
• CHAPTER2.pptx(protected view)
• Entrepreneurshippowerpointslide-140307085907-
phpapp02.ppt
• Entrepreneurshippresentationmodule1-090929020528-
phpapp02.ppt
• Innovationandentrepreneurship-121118084443-phpapp01