enterprise in action chapter 6

Reasons for starting a business

Be your own boss - gives you more control make your own hours make final decisions yourself

Personal achievement - may have strong desire for for achievement and a legacy

Made redundant - may have lost their job may start a business to start earning income and have more control of their future

Competencies of innovators

Risk taker - take on a personal and financial risk setting up a business cannot be hesitant of risks

realistic - have to have good perception of reality have to see situations clearly so can make decisions without bias helps set achievable goals manage resources

decisive - have to be decisive weigh up pros and cons don’t be bias and be realistic to make right decision

What does leo offer

Provide financial support - offer various grants to small businesses or start ups such as expansion grants can help them apply for loans up to 50,000€

Help with networking - hold networking events for local businesses to meet like minded people to get local insights and develop relationships

Provide training - online and in person training to help up skill certain areas offer wide range of articles and info on website

3 ways government can support businesses

government taxation - Gov create low Corporatation tax Encourages. Entrepereurs to Start business as they retain most

Gov Capital expenditure - Can increase Capital expenditure on infrastructure. Schools, hospitals. This Creates jobs and consumer demand

Goverment education and training - Gov invests in third level education for all students in Ireland, exempt from tuition.

Training Provided by organisations Such solas help unemployed People upskill and re enter labour force.

Importance of enterprise in economy society business