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TABLE OF CONTENT

Content Page

i. General Introduction i
1. Entrepreneurship: An Overview 1
1.1 Definitions of Entrepreneurs and Entrepreneurship 2
1.1.1 Definitions of An Entrepreneur 2
1.1.2 Definitions of Entrepreneurship 3
1.2 Historical perspectives of Entrepreneurship 4
1.3 The Myth of Entrepreneurship 6
1.4 Entrepreneurial Process and Challenges 10
1.5 The Dark side of Entrepreneurship 15
1.6 Types of Entrepreneurship 17
1.7 The Role of Entrepreneurship in the Economy 18
1.8 Innovation and Entrepreneurship 21
2. Entrepreneurial Background, Traits and Motivation 30
2.1 The Entrepreneurial Background 30
2.2 The Entrepreneurial Traits 34
2.3 Entrepreneurial Motivations 44
2.4 Success Factors for Entrepreneurs 48
3. Alternative Business Ownership Opportunities 52
3.1 Creating an Entirely New Business 52
3.2 Buying an Existing Business 55
3.3 Franchising 60
3.4 Legal Issues for the Entrepreneur 77
4. Small Business as Vital Component of the Economy 84
4.1 Definition of Small Business 84
4.2 The Contribution of Small Businesses to the Economy 86
4.3 Small Business Failure Factors 89
4.4 Forms of Business Organizations 90
5. Financing the New Venture 106
5.1 The need for finance 107
5.2 Sources of Finance 108
5.3 Matching Financing to Venture Development 123
5.4 Developing the Financial Package 125
6. Preparing Business Plan 127
6.1 Definition of Business Plan 127
6.2 Why a Business Plan 127
6.3 Who Should Prepare the Business Plan 128
6.4 Who Reads the Business Plan 129
6.5 Guidelines in Preparing a Business Plan 130
6.6 Contents and Structure of a Business Plan 131
Answer Key for Self – assessment Questions 147
Reference 155

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