Entrepreneurship can be classified as the acts of creation, renewal or innovation that occur internally or externally of an existing business (Sharma & Chrisman, 1999). Influencing factors depict the importance of entrepreneurship in the development and growth of a country, namely: the role of an entrepreneur, the relationship between entrepreneurship and development. (users.ipfw.edu, 2007)
The Importance of entrepreneurship in economic development and growth can be seen with regards to the role of an entrepreneur.
Entrepreneurship is important in an economy as it bring innovation to the development and growth of a country. Entrepreneurs find a need for a particular good or service in the market and then expand on that need. …show more content…
Perfection Nails Salon was established in 1997 in Carletonville, after an opportunity for beauty products and services arose. The business started as an opportunity business only offering nail enhancing services. The Salon not only offers nail enhancing services but also trains technicians and distributes beauty products to other neighbouring Salons. The Business was created by Mrs LM Oosthuizen and was initially funded by her husband Mr M Oosthuizen. The Salon is currently based in a private premise and employs another technician, a sales representative and a driver.
The Vision, Mission and Goals of the Business:
To offer the best nail care system to clients and to train technicians to international standards. Enhancing natural nails and promote beauty products. (Perfection Nail Salon) …show more content…
Micro, Market and Macro Environment’s:
Perfection Nail Salon ensures that the employees are fairly paid every month as well as that every employee has an UIF fund; receives maternity leave, annual leave and sick leave. The Salon also has Medical Aid coverage and Insurance. The Salon also ensures that every client gets personal attention. They similarly have day incentives on achieving monthly objectives.
Perfection Nail Salon is situated in a prime centralised area close to Alberton’s CBD and there is a high demand for beauty products and nail enhancement services in the Area. Attracting clients in the local Johannesburg area, competing in quality and 100% consumer satisfaction. The Salon’s suppliers are BioSculpture (Pty) Ltd and Calbrook International (Pty) Ltd.