ECONOMICS
INCENTIVES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Irregular paychecks
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Lower production standards
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Shorter vacations
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Long working hours
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Detailed explanation-1: -If survival can be assured, then profit is the next most important financial objective for a new business. A profit is earned when the revenue of the business exceeds the total costs. The entrepreneur can choose to reinvest (aka “retain") the profit in the business, or take it out as a personal payment or dividend.
Detailed explanation-2: -One of the most common financial risks that entrepreneurs take on themselves is hiring staff based on promises without actual money in the bank account to pay them. This often happens when you think your cash flow will improve.
Detailed explanation-3: -Lack of support. Lack of money. Lack of confidence. Lack of a clear pathway. Lack of experience and knowledge. 10-May-2022
Detailed explanation-4: -Managing cash flow. Finding your niche and marketing your value. Ineffective sales funnel. Competition. Lack of scalability. Overcoming red tape. Operational challenges. Entrepreneurial burnout. More items