ENTREPRENEURSHIP

Detailed explanation-1: -Entrepreneurs face multiple risks such as bankruptcy, financial risk, competitive risks, environmental risks, reputational risks, and political and economic risks. Entrepreneurs must plan wisely in terms of budgeting and show investors that they are considering risks by creating a realistic business plan.

Detailed explanation-2: -One of the common struggles for Indian entrepreneurs is the scarcity of funds for operations. New businesses struggle in getting a steady flow of cash for their day-to-day operations. Along with their working capital, startup founders also need a portion of buffer cash to support the highs and lows of business.

Detailed explanation-3: -Business risk is the exposure a company or organization has to factor(s) that will lower its profits or lead it to fail. Anything that threatens a company’s ability to achieve its financial goals is considered a business risk.

Detailed explanation-4: -Risk-taking enables and encourages innovation, which can be an important product/service differentiator. Failed risks aren’t always negative. Sometimes, they provide the most valuable business lessons an entrepreneur can learn. Failure helps shape future business strategies and can eventually lead to business growth.

Detailed explanation-5: -Market risk. Factors affecting a market sector or the economy can impact new businesses, and aspiring entrepreneurs need to take these risks into account. Financial risk. Competitive risk. Technology risk. Career fulfillment. Work-life balance. Leadership experience. Company control. 02-Sept-2022