USA HISTORY

Detailed explanation-1: -An entrepreneur is an individual who takes the risk to start their own business based on an idea they have or a product they have created while assuming most of the risks and reaping most of the rewards of the business.

Detailed explanation-2: -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-3: -Entrepreneurs obtain funding for their ventures from different places. They often use their own money when first starting out.

Detailed explanation-4: -An entrepreneur is someone who has an idea and who works to create a product or service that people will buy, as well as an organization to support that effort. An entrepreneur takes on most of the risk and initiative for their new business, and is often seen as a visionary or innovator.

Detailed explanation-5: -Risks are a fundamental part of being an entrepreneur. Joseph Shumpeter is the one who introduced the Innovative Theory. According to him risk taking is completely one’s own personal decision in which he is ready to bear loss in form of resources as well in form of capital.