INTRODUCTION TO ENTREPRENEURSHIP
IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Run out of cash
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Poor business model
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Market Demand
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None of above
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Detailed explanation-1: -According to business owners, reasons for failure include money running out, being in the wrong market, a lack of research, bad partnerships, ineffective marketing, and not being an expert in the industry. Ways to avoid failing include setting goals, accurate research, loving the work, and not quitting.
Detailed explanation-2: -Carry out market research Many assume that lack of funding or the wrong team are the main reasons behind business failure. However, planning and research are crucial when it comes to ensuring your business idea is feasible, your pricing is competitive and you will receive an adequate return on investment.
Detailed explanation-3: -Lack of market research. Poor financial control. Poor management. All the above.
Detailed explanation-4: -Financing Hurdles. Inadequate Management. Ineffective Business Planning. Marketing Mishaps.