risks n rewards 🤍

Question 1

Lack Of Security

Answer 1

Entrepreneurs often lose the security that they had with their job in terms of a regular wage. This means that if the business isn’t making any profit, the entrepreneur may have no money to live off.

Question 2

Failure

Answer 2

Starting a new business is risky as they are very likely to fail in their early days.

They face the risk that consumers may not want to buy their product, especially if it is a new product.

Question 3

Financial Loss

Answer 3

Starting a new business can be a big investment. Failure can often mean a big financial loss for the entrepreneur.

Question 4

Reward

Answer 4

If a business succeeds, there may be a big emotional or financial reward.

Question 5

Risks

Answer 5

A business may not succeed for a number of reasons. Starting a new business can be risky.

Question 6

Dissatisfaction with current job

Answer 6

Many entrepreneurs have had jobs in the past that they hadn’t enjoyed which lead them to pursue their new idea.

Question 7

Financial Reward

Answer 7

If a business is successful then an entrepreneur can make a profit.

They may also be able to sell the business for a large sum in the future.

Question 8

Being their own boss

Answer 8

Setting up a business means you can work for yourself.

This means you are more likely to have flexible working hours and more choice over the type of work that you do.

Question 9

Pursue an interest

Answer 9

Some entrepreneurs genuinely want to set up a business to explore something they are passionate about.