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   Risks Taken: What kind of risks did the business owner take? Sometimes, taking on too many risks or not
                   managing them well can lead to problems and eventual closure.

                 By looking at these factors, we can better understand why some businesses succeed and others don’t.

                 Wage Employment

                 Wage employment means working for someone else and getting paid a fixed amount of money, usually
                 called a salary or wage. When you have a wage job, you work for a company or organisation, and they pay
                 you regularly, like every week or month. Your job will have specific duties and responsibilities that you need
                 to follow, and you usually work set hours each day.

                 In wage employment, you might also get extra benefits, such as health insurance or vacation time, depending
                 on the company. One of the advantages of wage employment is that you don’t have to worry about the
                 financial risks of the business—your income is steady and not directly affected by the company’s profits or
                 losses. This kind of work provides stability and predictability in your earnings and job role.

                 Difference between Wage Employment and Entrepreneurship

                 The differences between wage employment and entrepreneurship are as follows:

                        Aspect                Wage Employment                           Entrepreneurship
                 Income                Fixed salary or wage, regularly   Income depends on business success

                 Job Role              Specific  tasks  assigned  by  the  Runs the whole business and makes all decisions
                                       employer
                 Work Hours            Set by the employer, usually fixed Flexible, depending on business needs

                 Responsibilities      Defined by the employer           Includes all aspects of running the business
                 Financial Risks       None, income is stable            High, as income can vary based on business
                                                                         performance

                 Business Decisions    Made by the employer              Made by the entrepreneur
                 Job Security          Typically more stable             Less predictable, depends on business success

                 Control Over Work Limited to specific tasks             Complete control over all aspects of the business


                 Benefits of Entrepreneurship
                 The benefits of being an entrepreneur are as follows:

                   Follow Your Passion: Entrepreneurship lets you start a business based on what you love doing. You can
                   turn your hobbies or skills into a business that you enjoy.

                   Empower Yourself: As an entrepreneur, you are your own boss. You get to choose what kind of work you
                   want to do and how you want to do it, instead of working for someone else.
                   Control Your Earnings: You decide how much money you want to make and how you want to make it.
                   Your income depends on how well you manage your business.

                   Higher Risks, Higher Rewards: Although running a business comes with risks, it also offers the chance to
                   make more money. Often, the bigger the risk you take, the greater the potential profit. You get to choose
                   how much risk you are willing to take.






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