Michael is a middle-aged professional who lost his job five months ago when his former employer downsized. He has been actively looking for work at all of the nearby companies, but he hasn't been able to find a job that truly utilizes his talents or abilities or that offers an income anywhere close to what he earned in his previous position. He is beginning to feel that the only way to survive in his current situation is to start his own business. Michael might well become a:

Question

Social Studies

Emilio

3 May, 08:29

Michael is a middle-aged professional who lost his job five months ago when his former employer downsized. He has been actively looking for work at all of the nearby companies, but he hasn't been able to find a job that truly utilizes his talents or abilities or that offers an income anywhere close to what he earned in his previous position. He is beginning to feel that the only way to survive in his current situation is to start his own business. Michael might well become a:

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Cristian Johnston · Answer 1

necessity entrepreneur

Explanation:

Necessity entrepreneur: The term "necessity entrepreneur" is described as an individual who belongs to a developing country and willingly starts "small enterprises" because of necessity. However, a necessity entrepreneur can range from "street sellers" to "educated hopefuls" in the presence of a little access associated with formal employment, and there's one thing that is responsible for uniting all these entrepreneurs is the requirement to survive.

In the question above, the given statement represents that Michael might well become a necessity entrepreneur.