Describe the following concepts relating to entrepreneurship and small business management ? 1. Collateral security ? 2. entrepreneur ? 3. entrepreneurship ? 4. Intrapreneur? 5. Market ?

1. Collateral security refers to assets that a borrower pledges to a lender as security for a loan. If the borrower is unable to repay the loan, the lender can seize the collateral to recoup their losses.

2. An entrepreneur is an individual who starts and operates a business, taking on financial risks in the hope of making a profit. Entrepreneurs are typically innovative, creative, and willing to take on challenges.

3. Entrepreneurship is the process of starting and running a business, typically with the goal of making a profit. It involves identifying opportunities, taking risks, and organizing resources to create a successful venture.

4. An intrapreneur is an employee within a larger organization who behaves like an entrepreneur, taking initiative to develop new ideas, products, or processes within the company. Intrapreneurs are often encouraged by their employers to think creatively and drive innovation.

5. The market refers to the group of consumers or businesses that are potential buyers of a product or service. Understanding the market is crucial for entrepreneurs and small business owners, as it helps them identify their target customers, assess demand for their offerings, and develop effective marketing strategies.