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3.1.1 - The purpose and nature of business GapFill
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Businesses can be categorised according to the sector they operate in. A mining business operates in the sector, whilst a manufacturing business is in the secondary sector, and a hairdresser is in the sector. Some businesses, such as Dyson, are in more than one sector. In this case, as Dyson both manufactures its products and sells them to customers, it is in the secondary and tertiary sectors.
An entrepreneur is someone who starts a new business. A key characteristic of such a person is that they are , since the success of a new business cannot be guaranteed. Reasons for becoming an entrepreneur vary, but it is unlikely to be due to . Entrepreneurs are important to the economy because they can create in the area they set up in.
Businesses and their owners face constant change. For example, adjustments to the national minimum wage is an example of a change in . Businesses cannot ignore this. They should also be mindful of the local community and not create as this is not acceptable, especially if their business activity involves manufacturing which may create noise.