1.1.2 - Risk & Reward Flashcards by Isaac Haruna-Conlon Year 10

Q

What are the possible risks of being an entrepeneur?

A

Business failure - 10% of new businesses fail within the first year of trading
Financial loss
Lack of security

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Q

What are the reasons for business failure?

A

Lack of demand
Poor management of cashflow
Failure to respond to the market

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Q

What are the possible rewards of being an entrepeneur?

A

Business success
Profit
Independence
Non-financial rewards - such as philanthropy

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