Entrepreneurial Tools

1. Market research   

   1. To see what people want  

2. SWOT   

   1. SW - Micro 

   2. OT - Market 

3. Business plans   

   1. To exploit the need and make money   

      1. Location 

Types of Entrepreneurship

• Home based   

  • Skills based 

• Survivalist   

  • Not by choice  

• Micro  

  • Structured 

• Small  

  • New Idea 

• Medium  

  • Full time start 

• Large  

  • Eg. Virgin - Richard Branson   

Importance of Entrepreneurship 

1. They create jobs 

2. EAP 

   1. This stands for an Economically Active Population 

3. Population  

   1. RSA Growing  

4. Government responsibility  

5. EAP  

   1. Economically Active Population  

   2. Important for them to be viable