Did you know that two out of three businesses fail? This is often due to a lack of understanding of basic business concepts by the business owners. In the competitive South African business environment, aspiring entrepreneurs and new business owners need a solid foundation of knowledge to building sustainable businesses on. Entrepreneurship and how to establish your own business (5th edition) is a foundational book covering the key areas of entrepreneurship and small business development. This revised edition explains important business concepts in layperson's terms and uses updated examples to focus on. The entrepreneur's personal skills set; Role models in the field of successful entrepreneurship; Thinking 'out of the box' to find opportunities in the market; Evaluating business ideas; Drawing up a business plan; Setting up a business; Legal and other business requirements that apply to new businesses.