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Limited Company
A company is a legal entity made up of an association of people to undertake some industrial, trading or
commercial activity with the motive of earning profits. In companies, the ownership of an entrepreneur is
maintained by holding shares. Companies are of two kinds which are Private company and Public company.
A private company’s shares are non-transferable and are not issued to the general public. A public company’s
shares are transferable and issued to the general public through invitation. Minimum seven members are
required to make a Public company and there is no limit to maximum members.
Minimum of two members are required to make a Private company and there can be a maximum of 2
members. There is a need for a certificate of incorporation and commencement of business to start the
business for a public company, but only a certification of incorporation is required to start the business for a
private company.
CHARACTERISTICS OF ENTREPRENEURS
Building a successful enterprise is possible only if the entrepreneur possesses excellent leadership qualities.
Some critical leadership skills that every entrepreneur has are:
Self-Starter: Entrepreneurs know that if something needs to be done, they start it themselves. They are
always proactive. They set the parameters and dare to begin.
Clarity: Entrepreneurs visualise, plan and set clear targets for every part of the business.
Hard Working: Entrepreneurs are hard working. Successful entrepreneurs are adapted to the habit of hard
work from the beginning and dare to take decisions.
Courageous: Entrepreneurship involves risks and uncertainties. Entrepreneurs are always buckled up for
taking risks.
Foresightedness: Entrepreneurs have the ability to visualise what will be needed in the future and make
wise decisions.
Creative: Entrepreneurs have a creative mind. They always think out of the box and are always willing to
deliver something new to the market.
Innovative: Entrepreneurs always keep on researching new things in order to meet the dynamic needs of
customers.
Networking: Successful entrepreneurs always look for potential stakeholders and maintain good terms
with everyone in the business.
Communication Skills: Entrepreneurs have good communication skills, thus they convey their views and
ideas with clarity and precision.
Updated: In this fast-paced world everything changes rapidly and therefore today’s entrepreneurs keep
themselves updated with what’s happening in the business scenario.
Discipline & Commitment: Successful entrepreneurs are the first person to arrive at the office and the last
ones to leave and are very committed to their work.
Adaptability: Business environment evolves rapidly, thus in order to keep the business on track, they
adapt to changes. They are always exible with their way of working.
Passionate: Entrepreneurs are passionate about their work. They always put in those extra hours to make
the business successful because their joy is in their work.
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