Ethics plays a huge role in entrepreneurship with helping improving business reputation. I think a key role that comes from this is your reputation that you build from this and trust within clients. A strong ethical foundation helps build and maintain a positive reputation and trust with customers, employees, investors, and the broader community. Trust is a valuable asset for any business, and ethical behavior is key to earning and preserving it. This can also set you up for long term success to become successful within whatever business that you have created.

2. They are both related within both involving managing finances, but they do have some differences as well when it comes down to it.  Monitoring and prioritization are two things that they both do have in common as well.  They have more differences than similarities. for an example Risk and Investment. The personal budget in this is personal financial risk is primarily borne by the individual or family. Investment decisions typically focus on personal savings and retirement planning. The entrepreneurship budget is involving a higher level of financial risk, as the success of the business affects not only the entrepreneur but also investors, employees, and stakeholders. Investment decisions may include seeking funding from investors, banks, or venture capitalists. 

3. Businesses need a budget or financial forecast for plenty of critical reasons that could occur if not having some of these. Goal setting. Budgets enable businesses to set clear financial goals and objectives. Whether it’s achieving a certain level of revenue, profitability, or cost reduction, a budget provides measurable targets that guide the company’s efforts. Another important one would be cost control; budgets help businesses monitor and control costs. By setting expense limits and tracking spending against those limits, companies can reduce wasteful expenditures and improve overall cost efficiency. Overall, you need both of these two things within this topic to being able to be successful.

4. My definition of social entrepreneurship would be you focusing on addressing social and environmental challenges that occur while you are still trying to pursue financial sustainability. Social entrepreneurship involves hybrid models, may take various organizational forms, including for-profit businesses, nonprofits, cooperatives, and hybrid models. The choice of legal structure depends on the specific mission and goals of the venture. An example for this could be providing education resources for low-income students.

5. Entrepreneurs face plenty of legal issues within their businesses. I think one of the main ones that everyone faces in this industry is intellectual property, which can deal with avoiding infringement on the intellectual property rights of others. Also, drafting contracts to clarify ownership of intellectual property created by employees or contractors. One other main key point that they could be dealing with is regulatory compliance.