vedika
What Is an Entrepreneur? An entrepreneur is an individual who creates a new business, bearing most of the risks and enjoying most of the rewards. The process of setting up a business is known as entrepreneurship . Entrepreneurs play a key role in any economy, using the skills and initiative necessary to anticipate needs and bring new ideas to market . Entrepreneurship that proves to be successful in taking on the risks of creating a startup is rewarded with profits and growth opportunities. Why Are Entrepreneurs Important? Entrepreneurship is one of the resources economists categorize as integral to production, the other three being land/natural resources, labor, and capital. An entrepreneur combines the first three of these to manufacture goods or provide services. They typically create a business plan , hire labor, acquire resources and financing, and provide leadership and management for the business.