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Constant Growth and Development
Starting a company forces you to constantly improve your skills from marketing to closing deals. There is
always more to learn and apply to your business.
A Flexible Schedule
As an entrepreneur, you have the opportunity to break out of the 9 to 5 cycle and create your schedule. Work
can be scheduled in the morning, afternoon and evening depending on the convenience.
LIMITATIONS OF ENTREPRENEUR
Following are the limitations of an Entrepreneur:
Risks of failure Competitive threat
Workload i.e., 24x7 Multiple jobs
Busy schedule No regular salary
Recap Zone
An individual who is determined to be self-employed and starts his/her own venture with a sense of
ownership is known as an ‘Entrepreneur’.
The process of transforming a business concept into a bigger business enterprise, through planning
and management skills is said to be ‘Entrepreneurship’.
A service type of business is a commercial enterprise that works for its client by providing intellect
support or workmanship.
Manufacturing business usually buys raw material with the intention of using them as ingredients in
the making of a new product.
Hybrid business is the business in which the entrepreneurs provide service along with the product.
A sole proprietorship is a type of enterprise that is owned, managed and controlled by a single
individual.
A partnership firm is formed by two or more people.
In a imited iability Partnership or P, the partners of the firm enjoy perpetual existence as well as
the advantage of limited liability.
A co-operative business is a member-owned business structure and usually allows a limited distribution
of profits to members.
A company is a legal entity made up of an association of people to undertake some industrial, trading
or commercial activity with the motive of earning profits.
Building a successful enterprise is possible only if the entrepreneur possesses excellent leadership
qualities.
Entrepreneurs are national treasures and should be encouraged and rewarded, as they create new
opportunities, jobs and wealth as well.
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