1.5.2 - Entrepreneurial Motives and Characteristics

What are some characteristics of an entrepreneur?

• Opportunity spotter

• Creative

• Initiative

• Hard working

• Self-motivated

• Enthusiastic

• Determined

What are some skills of an entrepreneur?

• Communication

• Literacy and numeracy

• Organisation

• Problem solving

• Team working

What are some reasons why people set up businesses?

• Fulfilling a dream

• Being own boss

• Work-life balance

• Supporting a community

• Financial motives

• Non-financial motives

What is a financial motive to set up a business?

• Profit maximisation

• Profit satisficing

What are some non-financial motives to set up a business?

• Ethical stance

• Social entrepreneurship (motivated by a cause rather than a profit)

• Independence

• Homeworking