BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Profit is an important incentive that leads entrepreneurs to accept the risks of business failure. Entrepreneurs are individuals what are willing to take risks in order to develop new products and start new businesses.

Detailed explanation-2: -The most common types of state and local incentives for entrepreneurial firms are financial, fiscal, and services. Financial incentives include debt, equity and grant programs, while the fiscal category covers tax incentives.

Detailed explanation-3: -Entrepreneurs face multiple risks such as bankruptcy, financial risk, competitive risks, environmental risks, reputational risks, and political and economic risks. Entrepreneurs must plan wisely in terms of budgeting and show investors that they are considering risks by creating a realistic business plan.

Detailed explanation-4: -Generally speaking, entrepreneurs take risks as it allows them to distinguish themselves from their competitors. In the competitive business environment that exists today, those who are willing to position themselves as risk-takers position themselves as leaders as well, while others get left behind.