1.1.2 Enterprise

Question 1

Define enterprise:

Answer 1

A business, particularly one started by someone who shows initiative by taking a risk setting up, investing and running it

Question 2

Why are small enterprises important?

Answer 2

They are important to the economy as they help increase employment and are using new and emerging technologies ensuring they are ahead of market and attract funding

Question 3

What is a privately owned business?

Answer 3

Tent to be relatively small with stock, sales and workforce. May not have enough funds or access to new and emerging tech

Question 4

What is crowd funding?

Answer 4

Method or raising money on an online platform, depends on capturing imagination of potential funders.

Question 5

What is government funding?

Answer 5

Often available for new businesses that contribute to overall economy, making use of emerging tech easier for them.

Question 6

What is not-for-profit?

Answer 6

Organizations reinvest the money they make in their chosen cause. Many engage with new tech to help their cause