Resources

BDI3C

Resource Types

Human Natural Capital Technology Entrepreneurship

Entrepreneurial Resources

the people, materials, technology and money that you need to start a venture.

Human Resources

: the people who make the venture work. Internal human resources – people who

are part of the venture (like the entrepreneur/partners, the employees)

External human resources – people outside the venture, such as accountants, business consultants, lawyers, bankers, marketing advisors, suppliers.

To succeed, entrepreneurs need to know how to find people with the right skills.

Material Resources

the materials a company needs to operate – will vary depending on the nature of the venture.

Material resources can be: consumables (or expense goods) – used up

quickly, like paper and telephone services fixed (capital goods) – that last a long time,

like buildings and machinery. Capital goods depreciate over time (their value decreases).

Financial Resources

the funds required for the start-up and operation of the business.

Sources of money might include: financial institutions such as banks, government

agencies that provide startup loans or grants family and friends savings

In order to get financing to start a new venture, the entrepreneur will need to show carefully-researched projections about potential revenues and costs

Technology Resources

most businesses require technological resources of one type or another, like computer or telephone systems, or specialized software programs (CAD, ACCPAC).

Technology resources are becoming more important, as they can help us reach more customers throughout the world, and save us time and money.