Xavier was laid off from his job at an industrial steel manufacturing plant.When he was unable to find employment after three months of searching,he started a small business offering mobile welding and metal construction services.According to the GEM study,Xavier is a/an ______.

Question

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Xavier started his small business out of necessity after being laid off and unable to find employment, which makes him a necessity-based entrepreneur according to the GEM study. Opportunity-based entrepreneurs, on the other hand, start a business based on identified market opportunities and the potential for creating wealth, whereas fearless entrepreneurs are those who take risks and are unafraid of failure. Unnoticed entrepreneurs may refer to individuals who are overlooked or unrecognized despite their entrepreneurial efforts.

Xavier Was Laid Off from His Job at an Industrial