1. (10 marks) a) Explain briefly three types of business enterprises. b) Describe 10 (Ten)characteristics of competent entrepreneurs. (10 marks) c) Explain factor that stimulate entrepreneurs to go into business development. (10 marks) 2. a) Describe the social roles of entrepreneurship in Kenya. (10 marks) b) Explain the role of Government in entrepreneurship development in Kenya. (10 marks) 3. a) Highlight 10 (Ten)requirement of entry into self employment in Kenya that would motivate an entrepreneur to go into business. (10 marks) b) Describe five methods that an entrepreneur could adopt to protect her intellectual property rights. (10 marks) a) State four sources of business finance and explain three advantages and disadvantages of each (10 marks) b) Explain five internal factors that motivate a person to become an entrepreneur. (10 marks)

Question

1. (10 marks) a) Explain briefly three types of business enterprises. b) Describe 10 (Ten)characteristics of competent entrepreneurs. (10 marks) c) Explain factor that stimulate entrepreneurs to go into business development. (10 marks) 2. a) Describe the social roles of entrepreneurship in Kenya. (10 marks) b) Explain the role of Government in entrepreneurship development in Kenya. (10 marks) 3. a) Highlight 10 (Ten)requirement of entry into self employment in Kenya that would motivate an entrepreneur to go into business. (10 marks) b) Describe five methods that an entrepreneur could adopt to protect her intellectual property rights. (10 marks) a) State four sources of business finance and explain three advantages and disadvantages of each (10 marks) b) Explain five internal factors that motivate a person to become an entrepreneur. (10 marks)

Answer 1

1.a) The three types of business enterprises are:1. Sole Proprietorship: This is the simplest form of business where a single individual owns and operates the business. The owner has full control and responsibility for the business.2. Partnership: This is a business owned and operated by two or more individuals. Each partner contributes to the business and shares in the profits and losses.3. Corporation: This is a legal entity that is separate from its owners. It can own property, enter into contracts, and be held liable for its actions.b) The ten characteristics of competent entrepreneurs are:1. Creativity and Innovation2. Risk-taking3. Persistence4. Self-confidence5. Determination6. Flexibility7. Goal-oriented8. Leadership skills9. Strong work ethic10. Passion for the businessc) The factors that stimulate entrepreneurs to go into business development include:1. Desire for independence2. Passion for a particular industry or product3. Identification of a market opportunity4. Desire for financial success5. Inability to find employment in their field of interest2.a) The social roles of entrepreneurship in Kenya include:1. Job creation2. Economic development3. Innovation and technological advancement4. Social change and community development5. Wealth creationb) The role of Government in entrepreneurship development in Kenya includes:1. Providing financial support and incentives2. Offering training and mentorship programs3. Implementing policies that encourage entrepreneurship4. Providing infrastructure and support services5. Promoting public-private partnerships3.a) The ten requirements of entry into self-employment in Kenya that would motivate an entrepreneur to go into business include:1. Availability of capital2. Availability of resources3. Market demand4. Technical skills and knowledge5. Business plan6. Legal requirements7. Access to markets8. Access to finance9. Support from family and friends10. Government supportb) The five methods that an entrepreneur could adopt to protect her intellectual property rights include:1. Trademarks2. Patents3. Copyrights4. Trade secrets5. Licensing agreements4.a) The four sources of business finance are:1. Personal savings2. Loans from financial institutions3. Venture capital4. CrowdfundingAdvantages and disadvantages of each:1. Personal savings: Advantage - No interest payments, no repayment obligations. Disadvantage - Limited availability, potential impact on personal finances.2. Loans from financial institutions: Advantage - Access to larger amounts of capital, professional advice. Disadvantage - Interest payments, repayment obligations.3. Venture capital: Advantage - Access to expertise and networks, potential for high returns. Disadvantage - Loss of control, high expectations.4. Crowdfunding: Advantage - Access to a large number of potential investors, low cost. Disadvantage - Risk of rejection, potential for loss of control.b) The five internal factors that motivate a person to become an entrepreneur include:1. Desire for independence2. Passion for a particular industry or product3. Inability to find employment in their field of interest4. Desire for financial success5. Need for personal fulfillment and satisfaction

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