ECONOMICS
ENTREPRENEURS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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entrepreneur.
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self-confident
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inquisitive
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persistent
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Detailed explanation-1: -Following are some of the challenges faced by entrepreneurs in their entrepreneurship journey: 1. Cash Flow Management: Cash flow management is one of the most important components of any business. Still, some entrepreneurs find it difficult to pay their bills, while waiting for the payment to be done by the clients.
Detailed explanation-2: -Risk is the chance an entrepreneur takes of losing time and money on a business that may not prove profitable. Profit, remember, is the amount of money a business earns above and beyond what it pays out for salaries and other expenses.
Detailed explanation-3: -Describe four challenges of being an entrepreneur. Getting funds to start the business, being fully responsible for the business, feeling insecure about making the right decisions, and risk losing their investment if business fails.
Detailed explanation-4: -Greater personal responsibility. Potential financial risks. More personal stress. Requires a professional network. Requires greater sacrifices, longer working hours. Competition with other established businesses. 03-Feb-2023