“Entrepreneurship comes from the French verb 'entreprendre' which means 'To undertake,' is the act and art of being an entrepreneur or one who undertakes innovations or introducing new things, finance and business acumen in an effort to transform innovations into economic goods.”
Teacher: Ville Hanni
Study material: ?
Starting and developing a business
So you want to be an entrepreneur..
- Decide on w:Types of business entity ( w:fi:Yhtiömuoto )
- Startup ( w:fi:Startup-yritys ) with w:seed funding and entrepreneur ( w:fi:Yrittäjä ) startup money from gov't ( requires unemloyment status to be eglible, ask for "starttiraha" )
- Develop your w:SME with ( w:fi:PK-yritys ) w:venture capital ( w:fi:Pääomasijoitus ) and/or internal funding from revenues.
Develop a more mature business
- Raise funds with making new w:shares ( w:fi:Osake ) and selling them i.e. directed share emission ( causes dilutation of the existing shares )
- Mergers and acquisitions ( w:fi:Yritysten sulautuminen ) and Corporate takeover can be done by swapping of shares ( merger ) or emission of shares ( acquisition of new business by giving it's former owners shares in your business )
- List shares publicly on a stock exchange a.k.a. an IPO ( w:fi:Emissio (taloustiede) ) - Enlisted companies have much better w:liquidity ( w:fi:Maksuvalmius )
Resource for the enterepreneur
Entrepreneurship class week 6
Different ways of becoming an entrepreneur
Types of business ideas:
- ) Product idea
- ) Service idea
- ) Marketing idea
A w:feasibility analysis is an evaluation and analysis of the potential of the proposed project which is based on extensive investigation and research to give full comfort to the decisions makers. ( Wikipedia )
Entrepreneurship class week 13
- w:PESTEL analysis
Business idea development process:
- ) Idea
- ) Analyze markets
- ) Solution
- ) Figures ( to prove liability )
Entrepreneurship class week 17
How to get funding?
- FFF ( Family, Friends , Fools )
- w:Venture capital ( w:equity investment )
- w:Loan is a debt evidenced by a note which specifies, among other things, the principal amount, interest rate, and date of repayment. ( Wikipedia )
- w:Tekes, Finnvera etc.
- Finnish Venture Capital Association has some information
- Selling w:shares
- Equity based loans
- A w:Public offering is the offering of securities of a company or a similar corporation to the public. ( Wikipedia )
- An w:initial public offering (w:IPO) or stock market launch is a type of w:public offering where shares of w:stock in a company are sold to the general public, on a w:securities exchange, for the first time. Through this process, a w:private company transforms into a w:public company. Initial public offerings are used by companies to raise expansion capital, to possibly w:monetize the investments of early private investors, and to become publicly traded enterprises. ( Wikipedia )
- Selling w:bonds
- In w:finance, a bond is an instrument of indebtedness of the bond issuer to the holders. It is a debt security, under which the issuer owes the holders a debt and, depending on the terms of the bond, is obliged to pay them w:interest (the coupon) and/or to repay the principal at a later date, termed the maturity.
- w:Hedge funds ( w:fi:Hedgerahasto ) are private, actively managed investment funds. They invest in a diverse range of markets, investment instruments, and strategies and are subject to the regulatory restrictions of their country. ( Wikipedia )