INTRODUCTION TO ENTREPRENEURSHIP
TYPES OF ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Lifestyle Business Venture
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Internet Based Business Venture
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High Potential Business Venture
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Franchise Business Venture
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Detailed explanation-1: -Typically, there are four main types of businesses: Sole Proprietorships, Partnerships, Limited Liability Companies (LLC), and Corporations. Before creating a business, entrepreneurs should carefully consider which type of business structure is best suited to their enterprise.
Detailed explanation-2: -Startups are companies or ventures that are focused on a single product or service that the founders want to bring to market. These companies typically don’t have a fully developed business model and, more crucially, lack adequate capital to move onto the next phase of business.
Detailed explanation-3: -A lifestyle business is a passion-centered company that generates enough profit to allow an entrepreneur to work and live from anywhere, earning an income on their own terms.