Entrepreneurs face a variety of risks as well as uncertainty during the innovation process. A two-country study has provided insights into the innovation journey of tourism entrepreneurs.
Entrepreneurs face, among others, operational, financial, personal and market-related risks. Success or failure largely depends on entrepreneurs’ capacity to manage such risks. However, external factors in the product or financial market also come into play, and this is where policymakers can make a difference.
Further details: Tourism entrepreneurs’ journey through the innovation process