What Factors Might An Opportunity For A New Enterprise? Essay

1019 Words Nov 20th, 2016 5 Pages
What Factors Might an Entrepreneur Consider When Trying to Identify an Opportunity for a New Enterprise?

In nowadays society, entrepreneurs are the key roles in a market economy. More and more young people desire to become entrepreneurs and have their own business. It is attractive to be an entrepreneur. But the way to becoming an entrepreneur is difficult and full of risks and challenges so that it is not everyone can be an entrepreneur. To start a new business, entrepreneurs should think of the company’s structure and plans. A successful entrepreneur can combine innovation and creation to build a new enterprise.

Entrepreneurship can be simply defined as the process of starting a new business. In 19th century, Say, who was a French economist, pointed out that entrepreneurship is move the materials from the place with low productivity to the place with high productivity (Liu and Hsieh, 2006).The word “entrepreneur” can be referred to the founder of a new business (Aruwa,2008) or the person who “started a new business where there was none before” (Gartner, 1985).

As an entrepreneur, many decisions have to be made before launching and managing a new business. Besides, he or she have to figure out the value of the new enterprise and identify risk might meet. In the process of building a new enterprise, some factors must be considered by an entrepreneur.

First, Government both directly and indirectly influence the development of a new business. El-namaki (1988) had said…

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