Content of this unit
Skills for setting up a micro enterprise
In this section, you will consider the knowledge and skills that you will need to set up and run your new circular micro enterprise. Many new entrepreneurs make the mistake of thinking that if they are passionate about their product or service customers will see this and buy – WRONG! The failure rate of new and start-up enterprises is HUGE with over 70 per cent failing in the first year. Having a well-considered business plan is an important part of being successful – the second part is making sure you have the necessary skills to set up and run your enterprise.  

You will require several skills to start and run any business. It is important to identify the skills you need to develop or improve so that you can succeed in your day-to-day business operations.

Regardless of the nature of your enterprise and whether it is a circular enterprise or not, there are certain skills that you will need to master in order to manage your business effectively. Your day-to-day success will depend, in great part, on your ability to quickly grasp and apply these skills.