1. Do Now!
You have two post-it
notes….write down:
1. One SKILL that an
entrepreneur should
possess
2. One PERSONAL QUALITY
that an entrepreneur
should possess

2. Do Now
Test what you’ve learned!

3. Do Now
1) Define the term ‘entrepreneur’.
Someone who starts and runs a business and
takes responsibility for the risks involved.

4. Do Now
2) Name two key characteristics of an entrepreneur.
Risk Taker, Determination, Drive, Passion

5. Do Now
3) Name these famous entrepreneurs:
Alan Sugar Mark Zuckerberg
Anita Roddick

6. Do Now
4) Name two rewards of becoming an entrepreneur.
Financial, meet customer needs, job satisfaction

7. Do Now
5) Complete the sentence to describe ‘Opportunity Cost’
This is expressed in terms of the next best
alternative, which is given up when making a choice.
For example, what could an entrepreneur do with their
time, expertise and money if they didn’t start a business?

8. Do Now
6) Name one risk and one reward of setting up a hairdressing salon
in Hammersmith
Risks – Lack of experience, lack of
customers, competition.
Rewards - Profit, job satisfaction, customer satisfaction.

9. Do Now
1) What is the function of an income statement?
Summarise a businesses trading activity and
expenses to show whether it has made a profit
or loss.

10. Do Now
1) What is the function of an income statement?
Summarise a businesses trading activity and
expenses to show whether it has made a profit
or loss.

11. The importance of enterprise
and entrepreneurs in the UK
economy
Module 1 – Growing a Business Idea

12. Learning Objectives
By the end of this lesson you should be able to:
1. Explain the motives as to why entrepreneurs start up
small businesses and apply this to a real organisation.
2. Research and describe the help entrepreneurs can get
from Government or other sources.
3. Evaluate the potential benefits to the UK economy of
entrepreneurial activity and small businesses.

13. What are the motives for becoming
an entrepreneur?
LO1) Explain the motives as to why entrepreneurs start up small businesses and apply this to a
real organisation.

14. What are the motives for becoming
an entrepreneur?
Decide which motives
you think are most
important in becoming
an entrepreneur.
Arrange them in a
‘Diamond 9’ shape.
LO1) Explain the motives as to why entrepreneurs start up small businesses and apply this to a
real organisation.

15. What motives did the directors of
innocent have?
Write down 3 key things
from Richard Reeds
interview.
LO1) Explain the motives as to why entrepreneurs start up small businesses and apply this to a
real organisation.

16. What help and support is available
for entrepreneurs?
Small businesses are vulnerable in the early stages, and many fail.
There are many sources of help and guidance available from….
LO2) Research and describe the help entrepreneurs can get from Government or other sources.

17. Research Task
Research one of the following
areas of support for
entrepreneurs and small
business start-ups….
What do they do?
What support do they offer?
Are there any costs involved?
How is help/ advice accessed?
LO2) Research and describe the help entrepreneurs can get from Government or other sources.

18. Why are entrepreneurs so important
to the UK economy?
LO3) Evaluate the potential benefits to the UK economy of entrepreneurial activity and small businesses.

19. How important are entrepreneurs to
the UK economy?
If successful they can grow to
become large organisations. Small business defined as:
EU – Fewer than 50 employees
Create jobs.
The Companies Act 1985:
• Value of sales less than £2.8
Bring revenue to the million
government through taxation. • Value of balance sheet less than
£1.4 million
• There are fewer than 50
Take the economy out of a
employees
recession.
LO3) Evaluate the potential benefits to the UK economy of entrepreneurial activity and small
businesses.

20. Case Study: Why small businesses are
vital to the UK economy.
Read the case study….
Answer questions 1, 2 and 3
Identify three new business
terms from the case and
write down the meaning.
LO3) Evaluate the potential benefits to the UK economy of entrepreneurial activity and small
businesses.

21. Homework
You have just completed your
study of enterprise and
entrepreneurs.
To consolidate this learning
you need to produce a set of
detailed revision notes.
Due: Next Lesson

22. What type of entrepreneur are you?

23. Re-cap Learning Objectives
You should now be able to :
1. Explain the motives as to why entrepreneurs start up
small businesses and apply this to a real organisation.
2. Research and describe the help entrepreneurs can get
from Government or other sources.
3. Evaluate the potential benefits to the UK economy of
entrepreneurial activity and small businesses.