A person who takes a personal and financial risk to set up a business with the hope of making a profit?
Who is the Franchisor?
The Business granting the license
Name a benefit of entrepreneurship in the Irish Economy
New goods and services, Employment, Paying taxes
How did Ballyconnery Bo and the Hot Pod come up with their enterprise?
They spotted a service that was not currently being offered in their area
What are the three main types of cooperative?
Producer, Consumer, Worker
What is a huge drawback of being a sole trader?
Unlimited Liability
What are the three types of enterprise?
Financial, Cultural, Social
The sole aim of social enterprise is to___
Solve problems that affect society such as homelessness, poverty or environmental concerns
Name one local and one international franchise
One local, One international
Which is more risky? Opening a franchise or a new business.
New Business
What is the main purpose of financial enterprise and how does it contribute to society (1 point)?
To make profit - employment, provides G&S, Taxes
The entrepreneur is the ____ _____ of an Organisation.
Driving Force
Which of the following is a characteristic of an entrepreneur: Problem Solving, Market Knowledge, Budgeting, Ambitious
Ambitious
What is the minimum amount of shareholders for a public limited company ?
7
How many shareholders are their in a private limited company?
Between 1-149
What is a Sole Trader?
A business that is owned and run by an individual
What is a Franchise?
A license agreement that allows a person to sell an existing business's goods or services in a particular location, in return for percentage of the profits.
What entrepreneur did we mention in class has benefited society ?
JP McManus
What title does a Public Limited Company have after its name?
PLC
What is a cooperative ?
Business owned by its members
Shareholders in an LTD hope to earn profits called __
Dividends
CRO stands for __
Companies Registration Office
What are 3 benefits of being a sole trader?
Own boss, Make their own business decisions, keep all profits, easy to set up, inexpensive to set up
What percentage tax do LTD's pay
Corporation Tax - 12.5%
What is one local and one national example of Cultural enterprise which we discussed in class?
The Waterford Greenway, The Wild Atlantic Way
Who is the Franchisee
The person setting up the outlet
Which of the following is a key skill for an entrepreneur: Creative, Planning, Hard Working, Ambitious
Planning
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