UNIT 1.3 ENTERPRISE,
BUSINESS GROWTH &
SIZE: LESSON 1 & 2
Y10 IGCSE Business Studies
Entrepreneurship
An entrepreneur is a person who organizes, operates and takes risks to start a
new business.
Benefits of being an
entrepreneur
•
•
•
•
•
Independence
Able to use own ideas
Could become successful
May be more profitable than
working in another business.
Can use own skills and
interests
Disadvantages of being
an entrepreneur
•
•
•
•
•
Risk
Capital investment, i.e own
money
Lack of knowledge
Lack of experience
Opportunity cost
Entrepreneurship
Characteristics of successful entrepreneurs
Match the correct
term (shown on
worksheet handout)
with the correct
explanation of
reasons why it is
important.
Business Plan
Parts of a business plan:
1. Description of Business
2. Products and services
3. The Market
4. Business location and how products will reach customers
5. Organisation structure and management
6. Financial information
7. Business Strategy
◦ Group Activity: in small groups you will each be given 2 -3 parts of the business plan. First use the textbook to take
notes on what the parts of the business plan are that you have been assigned (see pages 22 – 23). Next each group
member will take a turn to teach the other group members about the parts of the business plan.
Description of Business
Description of Business
Products and services
Products and services
The Market
The Market
Business location and how products will reach customers
Business location and how products will reach customers
Organisation structure and management
Organisation structure and management
Financial information
Financial information
Business Strategy
Business Strategy