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 first steps to help entrepreneurs reduce the financial risks of a new business is to develop a business plan. Before you jump in with both feet, you need to know how much time and capital you are going to be investing in your new business. In addition, market research should be done.

Detailed explanation-3: -Innovative entrepreneurship Innovative entrepreneurs are people who are constantly coming up with new ideas and inventions. They take these ideas and turn them into business ventures.

Detailed explanation-4: -"An entrepreneur is one who creates a new business in the face of risk and uncertainty for the purpose of achieving profit and growth by identifying opportunities and assembling the necessary resources to capitalize on them."