Syllabus: Cambridge - IGCSE Business Studies
Module: 1.3 Enterprise Business Growth and Size
Lesson: 1.3.1 Enterprise and Entrepreneurship

Introduction

This article supports the teaching of Cambridge IGCSE Business Studies, Topic 1.3.1: Enterprise and Entrepreneurship, which introduces students to the role of enterprise in business activity and economic development. The module provides an essential foundation for understanding the role of entrepreneurs, the qualities required to start a business, and how enterprise contributes to employment and innovation.

Mapped precisely to the Cambridge syllabus, this guide equips teachers, senior leaders, and careers leads with practical insights that support both academic delivery and wider Gatsby-aligned careers provision.

Key Concepts

The syllabus outlines key content under 1.3.1 Enterprise and Entrepreneurship:

• The role of enterprise in business activity: Understanding how individuals take risks to develop ideas and launch businesses that satisfy market needs.

• Characteristics of successful entrepreneurs: Such as risk-taking, initiative, creativity, resilience, decision-making, and leadership.

• The importance of entrepreneurs and new businesses to a country’s economy: Including job creation, innovation, increased competition, and contributions to GDP growth.

• Identifying business opportunities: Through recognising consumer needs, market gaps, and trends.

• Taking calculated risks and managing uncertainty: Applying judgement and planning under conditions of limited information.

This foundational topic ties directly to commercial awareness and professional readiness, offering a vital lens through which students begin to understand how organisations are created and evolve.

Real-World Relevance

The global shift towards innovation-driven economies means entrepreneurship is no longer limited to start-ups. From freelance platforms like Fiverr to sustainability-led businesses like Too Good To Go, today’s economy is shaped by individuals spotting gaps and responding quickly.

In the UK, 2025 data shows record numbers of young people aged 16–24 engaging in micro-enterprises or side hustles. TikTok influencers creating digital products, students launching clothing brands, and peer-to-peer tutoring apps are contemporary examples of youth-led enterprise.

Locally, many schools are now engaging in social enterprise initiatives — such as sixth forms running zero-waste school shops or charity-linked pop-up cafés — that provide meaningful enterprise experience aligned to both curriculum and Gatsby Benchmark 6.

How It’s Assessed

Assessment for this topic typically includes:

• Multiple-choice and short-answer questions assessing knowledge of terms such as ‘entrepreneur’ and ‘enterprise’

• Scenario-based structured questions requiring students to apply entrepreneurial concepts to case studies

• Extended writing questions (6–8 marks) asking students to evaluate the impact of entrepreneurship on the economy or to judge which characteristics are most important for business success

Key command words include: define, explain, analyse, justify, and evaluate. Students must be supported in understanding the level of depth expected for each.

For example:

• Explain two reasons why entrepreneurs are important for a country’s economy (4 marks)

• Evaluate whether risk-taking or creativity is more important for a new entrepreneur (6 marks)

Enterprise Skills Integration

This module naturally develops decision-making and problem-solving, key pillars of Enterprise Skills’ thematic framework.

Students grapple with:

• Identifying needs – spotting market gaps

• Evaluating options – assessing start-up risks

• Making decisions – selecting business ideas and planning action

• Reviewing outcomes – understanding consequences of entrepreneurial actions

Using tools such as business simulations (available in Skills Hub Business or live events), students can experience entrepreneurial challenges in safe, structured environments. These sessions have been shown to improve higher-order thinking skills and workplace confidence.

Careers Links

This topic aligns directly with Gatsby Benchmarks 4, 5 and 6:

• Benchmark 4: Curriculum linked to careers – every enterprise lesson is grounded in real job pathways

• Benchmark 5: Employer encounters – use employer-led challenge scenarios or guest entrepreneur Q&As

• Benchmark 6: Experiences of the workplace – simulations offer realistic workplace decisions

Relevant career paths include:

• Small business owner

• Business development executive

• Product manager

• Start-up adviser

• Marketing assistant in start-ups

• Social enterprise founder

Enterprise literacy supports progression into business, retail, tech, and social impact roles – even for students not pursuing Business at A Level.

Teaching Notes

Common Pitfalls

• Oversimplifying entrepreneurship: Ensure students grasp that not all entrepreneurs are tech CEOs – everyday examples matter.

• Focusing too narrowly on profit: Highlight social enterprise and ethical business models.

• Weak application: Students often list traits (e.g. ‘resilience’) but fail to connect these to outcomes in context. Encourage use of case study examples.

Teaching Strategies

• Role-play pitch tasks: Students act as entrepreneurs and present their business idea to a ‘panel’.

• Case study comparisons: Use two contrasting businesses (e.g. a local bakery vs. an online fitness brand) to examine different forms of enterprise.

• Simulation-based challenges: Enterprise Skills’ business simulations are mapped to this topic and promote real-world thinking with minimal prep.

Extension Ideas

• Investigate a failed enterprise and analyse what went wrong

• Create a business plan using real demographic and trend data

• Invite a local business owner for a Q&A on their entrepreneurial journey