Question

Nasreen starts her own cosmetic company. after eight years she opens a clothing line followed by a jewelry store in a couple of years. nasreen is most likely to be classified as a _____.

Answer 1

Nasreen is best classified as an entrepreneur, embodying the trait of innovatively filling market needs and assuming risks. For Berkeley's new retail venture, she should choose a business structure that aligns with her goals and desired liability, such as Sole Proprietorship, Partnership, LLC, or Corporation.

Step-by-step explanation:

Nasreen, who started her own cosmetics company and later expanded into clothing and jewelry lines, is most likely to be classified as an entrepreneur. An entrepreneur is someone who identifies a need in the market and takes the initiative to start a business in order to fill that need. This individual typically embodies characteristics such as being a self-starter, independent-minded, hardworking, and willing to take risks. When considering the best form of business structure for someone like Berkeley who is opening a new retail business, she should assess her needs in terms of liability, funding, and control.

Popular options for business structures include a Sole Proprietorship, which is the simplest form with full control but personal liability; a Partnership, which involves shared ownership and liability; a Limited Liability Company (LLC), which offers protection from personal liability; and a Corporation, which is more complex and suitable for larger businesses with plans to go public or raise significant capital. Berkeley should weigh the pros and cons of each structure, considering how it aligns with her long-term goals, risk tolerance, and the level of control she wants to maintain.

Answer 2

The answer that best fits the blank is the term SERIAL ENTREPRENEUR. When we say serial entrepreneur, this is the kind of entrepreneur who manages multiple businesses at the same time or an entrepreneur who starts a business one after another. Hope this answers your question.