ENTREPRENEURSHIP

Detailed explanation-1: -The first transition begins when one or more persons start to commit time and resources to founding a new firm. If they do so on their own, and if the new venture can be considered as an independent start-up, they a called nascent entrepreneurs.

Detailed explanation-2: -Men own 63% of businesses About 800, 000 (or 14.5%) are equally male-and female-owned. While this data is from 2020, there are signs of progress ahead. According to a survey published in June 2022 by online payroll company Gusto, 49% of new business owners were women in 2021-a massive jump from 28% in 2019.

Detailed explanation-3: -The nascent entrepreneurship rate refers to the percentage of population who are currently a nascent entrepreneur, i.e., actively involved in setting up a business they will own or co-own; this business has not paid salaries, wages, or any other payments to the owners for more than three months.

Detailed explanation-4: -The significant difference between an entrepreneur and a businessman is that an entrepreneur comes up with a unique concept or idea, while a businessman sets up a business as a new entrant in an existing market on industrial or commercial grounds.