ENTREPRENEURSHIP

Detailed explanation-1: -Small businesses usually deal with known and established products and services, while entrepreneurial ventures focus on new, innovative offerings. Because of this, small business owners tend to deal with known risks and entrepreneurs face unknown risks.

Detailed explanation-2: -Today’s entrepreneur has become almost synonymous with “business owner, ‘’ but the reality is that there are many business owners who are not entrepreneurs–they are not pursuing a “new idea."

Detailed explanation-3: -Many people often think of entrepreneurs as innovators who introduce new ideas, products, and services to their customers and to the general public. In other words, entrepreneurs are also business owners, but not all business owners are entrepreneurs.

Detailed explanation-4: -Entrepreneurs are the founders and creators of new products or services, while small business owners start a type of business that already exists within the marketplace. For example, an entrepreneur starts a revolutionary new type of equipment to cut hair, whereas a business owner opens a haircutting salon.