Question And Answers

Who is an Employer?

    The Entrepreneur's Guide to Customer Development: A cheat sheet to The Four Steps to the Epiphany
  • Eventually, entrepreneurs will need to hire staff to help run the business, therefore they become
  • An entrepreneur may not have the skills needed to run the business and therefore he/she will need to hire managers and experts e.g. a restaurant owner may need to hire a manager and a chef . 
  • Employers have to bear many costs
    (a) wages and the cost of preparing this weekly
    (b) PRSI- employees and employers contribute to this but the employers contribution is greater
    (c) Insurance premiums
    (d) Workplace facilities e.g. canteen, parking, toilets.

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Who is an Investor?

    Making Bread: The Real Way to Start Up & Stay Up in Business
  • An investor is a person who gives the finance (capital) required for a business in exchange for a return
    in that business. This is called equity finance. 
  • E.g. A common way of investing money is to buy shares. The investor becomes a shareholder and shares in its profits by receiving a dividend. 
  • The investor can lend money to the entrepreneur but his must be paid back. This is called debt equity. 
  • E.g. Bank of Ireland loaned Brody Sweeney £21,000 to open the first O’ Briens sandwich bar.

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Who is an Entrepreneur?

    2010 TRISTAR Obak #84 John Pemberton - Invented Coca-Cola (Game Changers)(Baseball Cards)
  • Those setting up new businesses are called entrepreneurs
  • They must take the initiative (identify a gap in the market) to set up a new good or service and bring
    together the factors of production land, labour and capital to set up a business.
  • Entrepreneurs take the risks involved when setting up a business
  • The reward is profit
  • e.g. John Pemberton a pharmacist invented the famous soft drink Coca Cola (1886)

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