Entrepreneurship and Important Factors for the Development of Small Business

Presented by Group 6

Content

• What is Entrepreneurship?

• Important Factors for the Development of Small Business

THANK YOU SO MUCH !WHAT IS ENTREPRENEURSHIP?

Entrepreneurship

Entrepreneurship

• Act of being entrepreneur

• Define as a process

• Searching out opportunities in the market place

• Arranging resources required to exploit these opportunities

for long term gains

• Planning, organizing and assuming

Entrepreneurship

Entrepreneurship

Risk

Innovation

Leading

Aspects of Entrepreneurship

• Identification of market opportunity

• Generation of new business idea

• Risk taking

• Creation of business organization

• Creative and innovative skill

Advantages of Entrepreneurship

• Freely

• Self satisfaction

• Increase income and self-esteem

• Set own work schedule and control own fate

• Full use of skills

• Become a leader in the community

Disadvantages of Entrepreneurship

• Potential loss of income

• Long and irregular working hours

• Take fully responsibility

• Stress

• Time away from family and friends

• Risk of financial and business failure

• Emotional energy

• Necessity for strong self-discipline

THANK YOU SO MUCH !

IMPORTANT FACTORS FOR SMALL BUSINESS DEVELOPMENT

Small Business

• Make important contributions to economic and social

development.

• Not only create job opportunities but also play a wider role

in social, economic and political development.

• Major engine of growth in production.

Factors

Factors

Policy

Economic

Education

Social

Infrastructure

Policy

• Government’s policy encourage small business to engage

in legitimate activity.

• Other official policies for small business development can

be evaluated against their impact upon start-up, survival

and growth of small business.

Economics

• Change constantly and providing opportunities for new

businesses.

• Encourage a high rate of business start up and survival.

• As the example,

– Exchange rate

– Banking system

– Taxation

– Privatization

Education

• Reward individual as well as collective initiative and

innovation in all its citizens.

• Lack empathy with small business will be difficult for the

small business.

• Important step towards the creation of such a culture lies in

education.

Social

• Professions and large corporation sector lack empathy with

small business, then it will be difficult for the sector to

survive and grow

Infrastructure

• Can make small business to startup and grow

• Not enough infrastructure can increase cost and be afraid

to continue

Which Institution can provide?

• Many business related institutions in Myanmar such as

UMFCCI etc.

• Organizations and associations need to help the small

business

• Related ministry should provide the help to them.

THANK YOU SO MUCH !

THANK YOU SO MUCH

THANK YOU SO MUCH !

Q & A SECTION