enterprise

Question 1

define sme’s

Answer 1

small to medium sized enterprise

• employ >250
• annual turnover up to 50 mil

Question 2

market mapping?

Answer 2

allows firms to identify niches to fill

Question 3

opportunity cost?

Answer 3

cost f decision as measured by benefits forgone next best thing

Question 4

characteristic on entrepreneur?

Answer 4

committed
problem solver
dedicated
creative
knowledge

Question 5

motives?

Answer 5

financial; money, profit

non financial; freedom, enjoyment, couldn’t find job

Question 6

impact of sme’s on economy

Answer 6

• 33.2% of private sector turnover

- 15.2 mil people empolyed