Entrepreneurship

The Meaning of Entrepreneurship

• Roots of the word come from the Latin word “prendere” and the French word “prendre” which means to take

• Entrepreneurs take hold of opportunities when they arise

• Take a calculated risk to start a business that fulfills the needs or wants of people

Entrepreneurship

• The creation and building of a venture to fill a market niche

Characteristics

• Profit– Entrepreneurial ventures are usually thought of as

for profit• Their goal is to make income for the owner

– There are more and more Non-For-Profit entrepreneurial ventures starting everyday• A result of a socially responsible generation

• Size– Usually start small and grow larger

Entrepreneurship

• Service/Goods– Lawn Care vs. Clothing

• Physical/Virtual– Bricks and Mortar – actually have a store for

people to visit– E-Commerce – The business is conducted online– Many do both

Entrepreneurship

• Local/Provincial/National/International– For this course we will mostly talk about local

businesses– Provincial – Entrepreneurs take their business to

similar markets in their own province– Globalization – has enabled businesses to

compete internationally• Mostly due to the ease of doing business over the

internet

Entrepreneurship at BCI

Activity:• BCI has decided to have a student marketplace• Just like the Brantford Market downtown, we will have

various stalls and booths available to be used.

Entrepreneurship at BCI

• Get into groups of 4:• Think of possible business

opportunities at BCI• You can’t open a store that sells food

to students (no competition for the cafeteria)

• What needs do you have as a student of BCI that isn’t being met?

• Brainstorm a good business idea and everything that would be involved in starting it up