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)

1.<br />a) The three types of business enterprises are:<br />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.<br />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.<br />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.<br /><br />b) The ten characteristics of competent entrepreneurs are:<br />1. Creativity and Innovation<br />2. Risk-taking<br />3. Persistence<br />4. Self-confidence<br />5. Determination<br />6. Flexibility<br />7. Goal-oriented<br />8. Leadership skills<br />9. Strong work ethic<br />10. Passion for the business<br /><br />c) The factors that stimulate entrepreneurs to go into business development include:<br />1. Desire for independence<br />2. Passion for a particular industry or product<br />3. Identification of a market opportunity<br />4. Desire for financial success<br />5. Inability to find employment in their field of interest<br /><br />2.<br />a) The social roles of entrepreneurship in Kenya include:<br />1. Job creation<br />2. Economic development<br />3. Innovation and technological advancement<br />4. Social change and community development<br />5. Wealth creation<br /><br />b) The role of Government in entrepreneurship development in Kenya includes:<br />1. Providing financial support and incentives<br />2. Offering training and mentorship programs<br />3. Implementing policies that encourage entrepreneurship<br />4. Providing infrastructure and support services<br />5. Promoting public-private partnerships<br /><br />3.<br />a) The ten requirements of entry into self-employment in Kenya that would motivate an entrepreneur to go into business include:<br />1. Availability of capital<br />2. Availability of resources<br />3. Market demand<br />4. Technical skills and knowledge<br />5. Business plan<br />6. Legal requirements<br />7. Access to markets<br />8. Access to finance<br />9. Support from family and friends<br />10. Government support<br /><br />b) The five methods that an entrepreneur could adopt to protect her intellectual property rights include:<br />1. Trademarks<br />2. Patents<br />3. Copyrights<br />4. Trade secrets<br />5. Licensing agreements<br /><br />4.<br />a) The four sources of business finance are:<br />1. Personal savings<br />2. Loans from financial institutions<br />3. Venture capital<br />4. Crowdfunding<br /><br />Advantages and disadvantages of each:<br />1. Personal savings: Advantage - No interest payments, no repayment obligations. Disadvantage - Limited availability, potential impact on personal finances.<br />2. Loans from financial institutions: Advantage - Access to larger amounts of capital, professional advice. Disadvantage - Interest payments, repayment obligations.<br />3. Venture capital: Advantage - Access to expertise and networks, potential for high returns. Disadvantage - Loss of control, high expectations.<br />4. Crowdfunding: Advantage - Access to a large number of potential investors, low cost. Disadvantage - Risk of rejection, potential for loss of control.<br /><br />b) The five internal factors that motivate a person to become an entrepreneur include:<br />1. Desire for independence<br />2. Passion for a particular industry or product<br />3. Inability to find employment in their field of interest<br />4. Desire for financial success<br />5. Need for personal fulfillment and satisfaction