BCS: There are no addresses available for this application

I have a virtual machine (Windows 2008 R2) which I'm setting up for Sharepoint 2010 development.

I am trying to set up BCS.

In central administration, I have added a new service application of type (Business connectivity services), and this application is showing as "started".

When I click on the service in the list I receive the error "There are no addresses available for this application."

The problem occurs because Business Data Connectivity Service is stopped. To start BCS Service
Go to Central Administration --> Application Management --> Under Service Applications
Click Manage services on server. Start business data connectivity service.

Perform iis reset.