ENTREPRENEURSHIP

Detailed explanation-1: -A service business is a business that performs tasks on behalf of its client. The main selling point of all service businesses is that they save their clients time. Many service businesses also perform tasks to a higher standard than their clients could do themselves.

Detailed explanation-2: -A service business provides a skilled service, personal labor, or expertise instead of a physical product. This includes hairstylists, accountants, plumbers, doctors, and many more examples. These services exist to help people who don’t have the time, knowledge, or skills to complete the tasks themselves.

Detailed explanation-3: -Businesses are made up of individuals working together to meet society’s needs, as well as common goals. Some examples of businesses include Coca Cola and Walmart, as well as smaller private businesses such as an accounting firm or a local grocery store.

Detailed explanation-4: -While all entrepreneurs are self-employed, not all self-employed individuals are entrepreneurs-some are better categorised as small business owners. There are differences between the two. Entrepreneurs typically: devise untested ideas.