What are the most significant legal issues entrepreneurs face?

One of the major legal issues entrepreneurs face is selecting the correct legal form. When starting a business, the legal form can determine how taxes are filed or any legal actions are carried out. During the lecture, it was discussed all of the disadvantages of each legal form, selecting the wrong legal form could result…

What is social entrepreneurship?

Social entrepreneurship has a social mission at its core. Social entrepreneurship applies business principles to address social problems. It is able to create a lasting change that will; help the business succeed. Social entrepreneurship is similar to business entrepreneurship, but social thrives on making a change in society.

Why do we need budgets?

A budget is needed to know how much income the business will generate and how much to put toward certain expenses. A budget is important to monitor business performance if there was not a budget a person could be distributing money where it is not needed.

How does my own personal budget relate to an entrepreneurship budget?

A personal budget can help determine whether an entrepreneur can manage an entrepreneurship budget. Both budgets are projections of spending and income as long as the entrepreneur has a solid personal budget the entrepreneurship budget will be easier to manage. Discipline is the main goal of having a budget showing that you are able to…

Why do ethics matter in entrepreneurship?

Ethics matters in entrepreneurship because it can determine if a business conducts good business or bad business. Most people do not want to do business with bad business because there could be sketchy operations at hand such as money laundering or selling defective products.