An entrepreneur is an individual who initiates business activity, often taking significant financial risks with the hope of profits.
A lifestyle business is a type of small business established primarily to support the income and personal objectives of the individual entrepreneur, aligning closely with their lifestyle and values rather than aiming for high growth or scalability.
The term Small Office/Home Office (SOHO) is used to describe a work environment where individuals operate from home or a small office setting, leveraging technology such as faxes, scanners, and personal computers to compete with larger corporations.
A start-up is a new business venture, especially in its earliest stage, often funded by venture capital based on a detailed business plan.
