Learn: Enterprise

Welcome!Welcome to today's lesson on Enterprise. We'll explore what enterprise is, the role of entrepreneurs, and their motivations. Let's get started!

What is Enterprise?Enterprise refers to the ability to identify business opportunities and take risks to create a new business or improve an existing one. It is a key driver of innovation and economic growth because successful enterprises solve problems and meet customer needs.

The Role of EntrepreneursEntrepreneurs are individuals who start and manage businesses. They come up with innovative ideas, take risks, and organise resources to turn their ideas into reality. Entrepreneurs play a vital role in creating jobs and boosting economic activity.

Financial Motives of EntrepreneursOne key motive for many entrepreneurs is financial gain. This includes earning profits from their business, achieving financial independence, or building wealth for their future.

Non-Financial Motives of EntrepreneursNot all entrepreneurs are motivated by money. Some start businesses to pursue their passion, make a social impact, or gain personal satisfaction from creating something new. These motives can be just as important as financial ones.

Small and Medium Enterprises (SMEs)SMEs are businesses with fewer employees and lower turnover compared to large companies. They are essential to the UK economy, contributing significantly to job creation, innovation, and economic growth.

Review Time!Great work! You've learned about enterprise, including the role of entrepreneurs, their motives, and the importance of SMEs in the UK. Let's test your understanding with a few questions.