An entrepreneur is a person who creates something new and assumes the risks and rewards associated with that innovation. The entrepreneur is usually seen as an innovator, a source of new ideas, goods, services, and business/or procedures. Let us also consider the following definitions:
F.H. Knight said, “Entrepreneurs are a specialized group of people who bear risks and deal with uncertainty”.
According to ILO (International Labor organization) – “Entrepreneurs are people who have the ability to see and evaluate business opportunities, gather the necessary resources, take advantages of them and to initiate appropriate action to ensure success”.
Entrepreneurs generally face many obstacles when structuring their companies. Three that many of them cite as the most challenging are: overcoming bureaucracy, hiring talent and obtaining financing.
Finally, we can say that an entrepreneur is a person who takes risks in order to create utility for the welfare of human beings as well as for him/her. So, an entrepreneur is a person who sets up a business or businesses, taking on financial risks in the hope of profit. These are the people who have the skills and plan essential to anticipate current and future needs and bring good new ideas to market.