Practise identifying entrepreneur characteristics, motivations for starting a business, intrapreneurship, and how growth can affect an entrepreneur’s role in IB Business Management SL.
Make-Up (MU)
Lana Lane is an image coach and plans to open Make-Up (MU), a shop where she can sell her own brand of beauty products. Because Lana is a female entrepreneur, her local government will pay 50 % of the rent for the space in which MU will operate.
Lana has forecasted the following figures for MU for the first six months of operation, beginning on 1 July 2023 (see Table 1). The opening balance will be .
Table 1: Figures for the first six months of operation, beginning on 1 July 2023
Lana has learned that a new competitor with lower prices will enter the market before the end of 2023.
State two characteristics of an entrepreneur.