This book will help empower the reader to utilise the opportunities offered by a new South Africa. The purpose of this workbook is to give students practical guidelines on how to establish their own enterprises. Entrepreneurship and small business management in perspective. Definions of an entrepreneur. The relationship between entrepreneurship and small business management. Key success factors of entrepreneurs. Basic business concepts for the prospective entrepreneur. Production factors as resources. The enterprise, its establishment and sectors. Profit and other objectives of an entrepreneur. Informal and formal enterprises. Forms of enterprise. The business environment. The identification of feasible small business ideas. Cultivating a creative attitude. The generation of small business ideas. The development and evaluation of small business ideas. The viability of a business idea. The needs and characteristics of consumers. Mission and enterprise objectives. Calculate the expected market share. Calculate the income, the expected net profit, the break-even point. The Business plan. Risk. Setting up a business. Factors that will influence the choice of a business form. Duties and legal requirements of business forms. Factors that play a role in the choice of the place of establishment / site of the business. Setting-up factors that are related to the business functions.