ENTREP

Individuals who engage in micro and small business as alternatives to formal employment, contributing to inclusive goals, but not necessarily driving rapid economic growth.

Mega Entrepreneurs

Entrepreneurs in developing countries whose business contributions are minimal, often struggling with limited funds and skills.

Micro Entrepreneurs

Entrepreneurs require some formal education to capitalize on inventions and innovations, particularly in larger businesses.

Level of Education

Many entrepreneurs from developed countries have backgrounds as former employees in the formal sector.

Employment Status

Mega entrepreneurs often source funding from personal wealth, family support, or borrowing from parents.

Entrepreneurs Wealth

The willingness to engage with uncertainties in business operations, which can threaten business stability.

Risk Appetite

The recognition of a business idea or opportunity that may generate profit for an entrepreneur.

Discovery

The initial idea that is developed into a business concept, detailing preparation and activities from production to distribution.

Business Idea

A document describing how the enterprise will be managed and financed.

Business Plan

The process of identifying, sourcing, and financing the necessary resources for conducting business.

Organizing Resources

The execution of a business plan, involving management of human, physical, technological, and financial resources.

Implementation

The phase involving expansion strategies and addressing business environment conditions affecting future operations.

Reaping