If Julia opens another pizzeria next to the university, this company is for the first five years called a start-up.

According to Cantillon, the entrepreneur is someone who realizes profits via arbitrage.

Entrepreneurs typically show a low internal locus of control.

To succeed, entrepreneurs must own all the resources required for the business.

Start-ups often struggle to get bank loans.

The initial financing of start-ups is often achieved via an IPO.

Team members should be heterogenous in terms of aims and conflict culture.

According to Schumpeter, Entrepreneurship is associated with "Creative destruction".

According to Timmons, at the beginning, the opportunity is large while resources are rather limited.