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u Ambition-fulfilment: You get the satisfaction of fulfilling of your dream when your original ideas are
converted into a new product.

u Wealth Creation: It also allows entrepreneurs to create enormous wealth with their hard work.
u Status: It brings considerable fame and prestige.

u Excitement: Entrepreneurship provides adventure and is full of excitement.
u Freedom: Entrepreneurship allows the freedom to try out one’s ideas.
Disadvantages of Entrepreneurship as Career

u Risk: it involves considerable risk as failure can wipe away all the personal savings and increase the debt
burden.

u Uncertain Income: There is no fixed and regular income for an entrepreneur. Initially it may be difficult to
meet household expenses.

u Hard Work: The life of an entrepreneur is not easy. He has to work very hard to make the new business
successful.

u Problem of Finance: Arranging for finances is not easy for a first generation entrepreneur.
u Incompetent Staff: Incompetent staff hired by an entrepreneur because of low financial status may be
harmful for the business.

Pop
Pop Quiz Quiz
Write any two advantages and two disadvantages of entrepreneurship as a career.

1. _________________________________________ 1. _________________________________________

2. _________________________________________ 2. _________________________________________

K Keyey TTermserms

u Entrepreneur
An entrepreneur is an individual who, rather than working as an employee, creates and runs a small business,
with all the risks and rewards of the venture.

u Entrepreneurship
The process of identifying opportunities, mobilizing resources, and launching a venture for economic growth
within a society.

u Entrepreneurial Roles
The process where entrepreneurs make crucial decisions about equipment, quality, price, capital structure,
and project feasibility. The entrepreneurs bring in technology from various sources and adapt it to local
conditions.

u Entrepreneurship as a Career
The state of being your own boss and having control over your work. The satisfaction derived from
turning original ideas into products. The creation of significant wealth through hard work and successful
ventures.

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