By: Ace York

Definition of an entrepreneur

An entrepreneur is a person who takes a risk in starting their own business in order to make a profit. Entrepreneurship is the process of starting, organization, managing, and assuming the responsibility for a business.

Characteristics of a good entrepeneur

Good entrepreneurs are persistent, inquisitive, energetic, goal oriented, independent, self-confident, creative, reliable, and competitive. The have great problem solving skills, tolerance for ambiguity, strong integrity, personal initiative, ability to secure resources, capability to learn from failure, willingness to work hard.

Entrepreneurship data

Entrepreneurship is a big part in the U.S. economy. Almost one in ten of all Americans between the ages of 18-64 are involved in some type of entrepreneurship. More than 670,000 new businesses are created each year. However, starting a new business is very risky. About as many small businesses close as start each year.