INTRODUCTION TO ENTREPRENEURSHIP
CHARACTERISTICS OF AN ENTREPRENEUR
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Business failure
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Long working hours
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High stress
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Lack of capital
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Freedom
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Detailed explanation-1: -The main challenge that all entrepreneurs face is to get their business funded. Older business owners have the advantages of a history of good credit and years of networking under their belt, making it easy to find investors and secure loans and contracts. The younger entrepreneur does not yet have these resources.
Detailed explanation-2: -Money is the resource that helps mobilise other resources like men, materials and machines. Entrepreneurship in any society increases with the increase in the supply of capital. Thus, lack of availability of capital with any society or nation acts as a serious barrier for promoting entrepreneurship in that society.
Detailed explanation-3: -High levels of stress. Struggling to find product market fit and finding customers. Overworking and becoming burned out. Lack of cash flow. Finding the right business model. 15-Dec-2022
Detailed explanation-4: -Cash Flow Shortages. Lack of Access to Capital. Comingling Business and Personal Finances. Tax Compliance and Getting Audited. The Economic Environment. How A Financial Advisor Can Help. 30-Nov-2021