ENTREPRENEURSHIP

Detailed explanation-1: -While micropreneurs are a type of small business owner, they operate at a much smaller scale than traditional small businesses. Typically, a micropreneur will operate a business that has five employees or less. These businesses are sometimes referred to as microbusinesses.

Detailed explanation-2: -Examples of micropreneur include bloggers, freelance writers, photographers and even someone who rents homes on platforms, such as Airbnb. Such a business may have less than five employees.

Detailed explanation-3: -A lifestyle entrepreneur is a person who creates a business with the purpose of altering their personal lifestyle. The choice is not solely about making more money. In fact, many lifestyle entrepreneurs make less money for the first few years than they did working in a “conventional” job.

Detailed explanation-4: -Novice entrepreneurs are persons without prior experience (both minority and majority) in the ownership of a business, founders and buyers or heirs of an existing independent enterprise who currently have a minority or majority stake in a newly established, acquired or inherited enterprise.