Entrepreneurs, starting a new business

An Entrepreneur is an individual who starts a new business, someone who uses resources to implement innovative ideas for new ventures. They identify a business opportunity and assume the risk of creating and running a company. Accepting this commitment isn’t an easy task, entrepreneurs must be confident that they can manage stress, commitment, and hardships in order to succeed.

There are 3 main characteristics of any entrepreneurial activity:

  • Innovation: They offer a new product, develop a new technology or open a new market.
  • Running a Business: Setting up a business to make a profit, producing goods or services.
  • Risk Taking: the outcome of an entrepreneurial venture is unknown. There is always a certain degree of uncertainty.
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