Blog of the Practicing Entrepreneur
It is very important as your business grows and expands to ensure that you are on the right track with your business plan. Make sure that you take the time to evaluate your plan at least every quarter to make sure your business and your business plan is on the path to success. What is …
For the effective implementation of government programs and policies towards entrepreneurship and small business enterprises, various Nigerian governments have established some agencies and policies including: Various credit guidelines prescribed by government for loans and advances which banks should make available to … What can government do to promote entrepreneurship? Grants and loans are top on …
What are the rewards and challenges to entrepreneurship? Own Schedule: The rewarding achievement of being self-employed is that the entrepreneur can set his own schedule. The schedule of work is something which makes either energetic or tired. There is enough flexibility to set own time. What is the reward of becoming an entrepreneur? Entrepreneurship allows …
What are the two main purposes of a business plan? The 3 most important purposes of a business plan are 1) to create an effective strategy for growth, 2) to determine your future financial needs, and 3) to attract investors (including angel investors and VC funding) and lenders. What are the two most important parts …
What are 3 disadvantages of franchising? There are 5 main disadvantages to franchising your business: 1 – Loss of Control. … 2 – Training and Continued Support of Franchisees. … 3 – Poorly Performing Franchisees. … 4 – Compliance Costs and Risk. … 5 – Managing Growth. What are the disadvantages of franchise stores? 11 …
An entrepreneur is an individual who creates a new business, bearing most of the risks and enjoying most of the rewards. … Entrepreneurs play a key role in any economy, using the skills and initiative necessary to anticipate needs and bringing good new ideas to market. What are the four roles of an entrepreneur? The …
Under the PPP, small businesses can get up to 24 weeks of cash flow assistance through federally guaranteed loans. Plus, the loans can be forgiven to the extent the proceeds are used for payroll and certain other expenses during the COVID-19 pandemic. Do small businesses have to pay back PPP loans? Borrowers can apply for …
21st century entrepreneurship opens the door to people helping other people understand the new team-based approach to business in a global economy and how to use technology to work from home or in a co-working space. It’s akin to teaching someone how to fish, rather than giving them a fish. What is the role of …
Researchers have long known that entrepreneurs generally feel much more satisfied than people who work for somebody else. … More highly educated entrepreneurs, for instance, often end up less satisfied because they have such high expectations about their chances for success and potential for income. Is being an entrepreneur rewarding? Being an entrepreneur involves a …
How much does MBE certification cost? Certification fees start at $350 for businesses with less than $1 million in annual revenue, and approval can take up to 90 days. If you’re approved, you’ll officially have Minority Business Enterprise (MBE) status and be eligible for the associated benefits. Who qualifies as a minority business owner? In …