Enterprise & Entrepreneurs

Enterprise

The ability to come up with an idea, identify an opportunity for innovation and takes the risks needed to turn it into a business.

Entrepreneurs

A person who takes the personal and financial risk to create a business in a hope of making a profit. E.g. Facebook - Mark Zukerburg

Limited liability

The owners of a company are only responsible for the company’s debt up to the amount they invested. Their personal assets (house, car) are safe and cannot be used to pay debts off.

Unlimited liability

The owners of a business are personally responsible for all the debts of the company. If the business cannot repay its debts, creditors can go after the owners personal assets.

Intrapreneurs

When employees use their initiative to come up with new ideas for the business. E.g. Gmail was the idea of an employee.

Enterprise Ireland

Funds new Irish businesses.

Local Enterprise Office

Offers advice, training and financial support to people interested in starting a business in local communities.

Characteristics

Risk taker , Innovative , Self confident

Skills

People skills, ability to manage stress, good time management