National Entrepreneurship Institute, Entrepreneurship refers to an individual or small group of partners who set out on an original path to creating a new business.
An aspiring entrepreneur actively pursues a particular business venture and it is the entrepreneur who takes the greatest amount of risks associated with the venture, as such, this person will also be the most beneficial if the venture is successful.
Entrepreneurial activities often involve innovation, and large companies may seek to emulate this element by developing what is known as "internal entrepreneurship".
Employees are encouraged to think like entrepreneurs, cultivating an original perspective that may result in a new idea for the company.
These workers may be given extra leeway, but the organization still retains authority over the project and absorbs any associated risks. Entrepreneurs benefit from every sector, from large corporations to small businesses.
National Entrepreneurship Institute:
The National Business Leadership Institute (Riyadh) is located in Riyadh, Saudi Arabia and is part of the other professional, scientific and technical services industry.
The National Entrepreneurship Institute is an independent, not-for-profit, national institution that was established through an initiative by the Ministry of Energy and the Technical and Vocational Training Corporation under the name (National Institute for Entrepreneurship).
National Entrepreneurship Institute Programs:
Emiratisation Program:-
Within the framework of the vision related to enabling social development tools and striving towards enhancing the financial independence of people and families in the direction of a vibrant and productive society and striving towards achieving the basic goals, the Emiratisation program has been worked on, as this program provides a package of financial and non-financial services to strive towards enabling people to enter the labor market And work on the initiative and contribute to the localization of some commercial activities.
Mobile vending program:
The Social Development Bank, in cooperation with the National Institute of Entrepreneurship, worked on implementing this model in line with the decision to allow licenses to be given to mobile vehicles so that citizens could practice self-employment through them.
Irada program:
It consists of juniors and graduates, and the emerging program is to work on targeting small and emerging projects with funding amounts not exceeding 300 thousand riyals.
As for the graduate program, it works on a range of activities for specialists in it who hold a university degree and diploma in the field, through a funding amount not exceeding 500,000 Saudi riyals.
Entrepreneurship and its importance :
An entrepreneurial mindset combines many different skills that require careful development to achieve success in a business idea.
For example, the entrepreneur must be able to balance an understanding of how business works - including from a financial and operational perspective - with a drive to innovate.
Entrepreneurship means understanding when you have an opportunity in the market that no other provider meets and having the business sense to know how to pursue this new opportunity at the right time.
A successful entrepreneur possesses many capabilities and characteristics, including the ability to be:
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Nosy
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Flexible and adaptable
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continuous
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Passionate
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willing to learn
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insight
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motivated, impulsive
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Entrepreneurial drive stems from qualities like these, just as an entrepreneur’s ability to succeed depends on developing these capabilities.
What are the types of entrepreneurship?
From social entrepreneurship to scalable entrepreneurship to internal entrepreneurs, there is no limit to the types of entrepreneurs currently working within companies.
The in-house entrepreneur can be considered a type of entrepreneur, although this individual is likely to enjoy slightly less freedom and much lower financial risk than an entrepreneur who is truly embarking on a new and independent journey.
While internal entrepreneurs may need to manage the expectations and budgets provided by their sponsoring organization, they do not have the same interests as independent entrepreneurs when it comes to investor relations, venture capital, and business management in general.
Entrepreneurs may also be motivated primarily by their desire to make a positive impact on the world by creating a new business.
Known as a social entrepreneur, this type of leader sees a problem facing their communities, or the world at large, and strives to create and implement new solutions that drive change.
Another important difference between the different categories of entrepreneurship is the size of the entrepreneur's ambition: are they trying to launch a small business or create a growth-oriented startup?
Obstacles to successful entrepreneurship:
A smart project and the right opportunity do not guarantee success in the world of entrepreneurship, a young entrepreneur may face many obstacles on the way to establishing a company.
Take the first step:
For most entrepreneurs, the biggest struggle will be taking that first leap. Finishing a business, setting up a website, getting into a startup acceleration program, or just advertising your business to the world and family and committing to the required sums can be difficult in the beginning.
The time it takes for results to appear:
Unfortunately, the vast majority of entrepreneurs quit and quit before they make big gains.
If they had stayed for another day, week, or month, everything would have worked out, often much more than they had imagined.
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