Contents - Tanzania Revenue Authority

PART ONE
1.0 ART OF ENTREPRENEURSHIP STARTING A NEW
BUSINESS
1.1 ART OF ENTEPRENEURSHIP
The word entrepreneurship comes from the word
enterprise and means:
• Determination to look for and eagerness to get wealth
• The ability to identify existing opportunities and courage to
exploit emerging opportunities
• The ability to overcome obstacles that may hinder
business operations.
Therefore an entrepreneur is a person who is able to identify
and exploit existing opportunities to establish and manage
viable enterprises by applying the main pillars of business,
which are; manpower resources and working capital. He is a
planner with a vision and mission who is dedicated to run
his/her business with success. He is also confident, selfdriven
ready to work for long hours; a person who is quick to
realize his/her mistakes and take remedial measures; and
one who is willing to spot out other talents and use them to
accomplish business plans
1.2 MEANING OF BUSINESS
Business is an act of buying and selling property, goods
and/or delivering services, with the aim of earning profit.
The national policy of 2003 of developing small and medium
size entrepreneurs divides businesses into four main
categories by considering the number of employees and
operating capital as follows:-
1