Turning adversity into opportunity



Learning objectives:
▪ Define entrepreneur and describe the three characteristics of entrepreneurial activity.
▪ Identify five potential advantages to starting your own business.
▪ Define a small business and explain the importance of small businesses to the N.Z. economy.
▪ Explain why small businesses tend to foster innovation more effectively than large ones.
▪ Describe the goods-producing and service-producing sectors of an economy.
▪ Explain what it takes to start a business and evaluate the advantages and disadvantages of starting a business from scratch, buying an existing business, or obtaining a franchise.
▪ Explain why some businesses fail.
▪ Identify sources of small business assistance from the Small Business Administration