Entreprenurial column
What is entreprenuership?
Entrepreneurship is the process of creating, managing, and growing businesses.
what are savings societies ?
A saving society is a community-based financial group where members regularly pool their money together. These funds are then used to provide loans, emergency support, or investment opportunities.
What is shopkeeping defined as ?
Shopkeeping is a form of small-scale retail business where goods are purchased from wholesalers and sold directly to consumers.
What are Entreprenurial Activities?
Entrepreneurial activities are actions taken to generate economic value by creating or expanding businesses through the identification and exploitation of new products, processes, or markets.
Benefits of saving societies?
Provides loans and easier access to credit.
Helps members invest or start businesses.
Supports financial security and stability.
Give a benefit of shopkeeping?
1.Easy access to goods and services
2.Keeps money circulating in the local economy
Challenges found when carrying out entreprnuerial activities ?
1.Finding the Right Idea: Identifying a sustainable business idea is crucial. Conduct thorough market research.
2.Lack of Funds: Many entrepreneurs struggle with accessing enough capital. Explore alternative funding sources like crowd funding, angel investors, and venture capitalists.
Give any challenge of Saving Societies ?
1.Mismanagement and fraud can occur if records are not properly kept.
2.They often have limited funds compared to formal banks.
Provide two examples of shopkeeping ?
grocery shops
mini-marts
corner shops