The people who create these businesses are often referred to as 'entrepreneurs'. More narrow definitions have described entrepreneurship as the process of designing, launching and running a new business, which is often similar to a small business, or (per Business Dictionary) as the 'capacity and willingness to develop, organize and manage a business venture along with any of its risks to make a profit'. The entrepreneur is commonly seen as an innovator, a source of new ideas, goods, services, and business/or procedures.
The process of setting up a business is known as 'entrepreneurship'. Entrepreneurship is the creation or extraction of economic value in ways that generally entail beyond the minimal amount of risk (assumed by a traditional business), and potentially involving values besides simply economic ones.Īn entrepreneur is an individual who creates and/or invests in one or more businesses, bearing most of the risks and enjoying most of the rewards.
