Jeorpardy game: For every question, you receive a reward:

Entrepreneurship

1

What is entrepreneurship?

It is the activity of setting up a business or businesses, taking financial risks in the hope of profit.

2

Is finance an important part of entrepreneurship?

Purchasing products, marketing the business, developing new products, and hiring your employees all rely on having adequate funds for investment.

3

What is the advantage of starting your own business?

• Personal fulfillment.
• Flexibility and independence.
• You have control of all the money.
• Power.

4

What are some issues in starting a business?

• Knowledge and skill gaps
• Securing funds.
• Ineffective marketing.
• Lack of demand.
• Failure to plan.

5

How do developed countries play part in entrepreneurship?

Entrepreneurs locate and exploit opportunities. The entrepreneurs the latent and idle resources like land, labor, and capital into national income and wealth in the form of goods and services. They help increase Net National Product and Per Capita Income in the country.

Entrepreneur

1

Who is an entrepreneur?

A person who undertakes the risk of starting a new business venture.

2

How can you become an entrepreneur?

Find a profitable business idea, develop your product, validate your product, write your business plan, secure the funding you need, launch your business, and become a student of entrepreneurship.

3

Name an entrepreneur you know?

Oprah Winfrey

4

Describe some characteristics of an entrepreneur

• Ability to network.
• Creative.
• Should be optimistic.
• Passionate.

5

what motivates an entrepreneur?

Entrepreneurs are often motivated by a desire to be recognized as a world leader in a specific field.

knowledge

1

Does it start with the small you have?

Depends on the type of business you want to start.

2

How can you actualize an idea you have?

Do a market study of the product, work to save capital, and look into grants.

3

How can you get an idea for a startup?

• Consider and analyze the relevant markets.
• Note down your ideas and expand them.
• Carry out competitive analysis.
• Model your business.
• Create/design/sketch your mockup and then test it.
• Execute a market survey.

4

Some types of owning a business include?

• Cooperative.
• Sole proprietorship.
• Partnership.
• Limited liability company.
• Corporations.

5

How can you develop ideas from already existing ideas?

By trying to fill a gap that might have been left hence being more innovative.

Financing

1

Is crowdfunding a part of financing an idea?

yes

2

Other methods of financing an idea?

Pursue a grant, Family and friends, An angel investor, Seek venture capital, Bank loan or line of credit, and Raise money yourself.

3

How can you use technology for crowdfunding?

By putting an emphasis on your interactions with your supporters and crafting strong messaging, you can reach a wider network and increase your revenue.

4

What are the basics of financing in entrepreneurship?

• Capital markets.
• Creation and oversight of financial systems.
• Credit.
• Banking.
• Leverage or debt.

5

where do entrepreneurs get their money?

Personal funds: 66.3% Income from another job: 27.6% Borrow from friends/family: 11.3% Bank loan: 11.2%