Entrepreneurship

By: Autumn Branson

What is a entrepreneur?

An entrepreneur is someone who takes the risk in starting a new business to earn a profit. The process of starting, organizing, managing, and assuming the responsibility for a business is called Entrepreneurship.

What are the characteristics of an entrepreneur?

Entrepreneurs come from all ages, racial, and ethic group. They are represented by both genders equally. They are more energetic, independent, and creative. They also have problem-solving skills, willingness to hard work, and an ability to secure resources.

More data

One in five Americans have borrowed money from someone they know well. More than 50% lend financial support for a business from a family relative. Over $100 billion are spent in a new business by family and friends each year. More than 2,900 companies get capital venture each year.

Innovation and Improvement

Entrepreneurs either make innovations or improvements. Innovations are new products that have never been seen before. Improvements is a change in the design of a product to increase the usefulness of it.