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An '''entrepreneur''' is a person who organizes a venture to benefit from an opportunity, rather than working as an employee. Entrepreneurs play a key role in any economy. These are the people who have the skills and initiative necessary to anticipate current and future needs and bring good new ideas to market. | An '''entrepreneur''' is a person who organizes a venture to benefit from an opportunity, rather than working as an employee. Entrepreneurs play a key role in any economy. These are the people who have the skills and initiative necessary to anticipate current and future needs and bring good new ideas to market. | ||
Entrepreneurs who prove to be successful in taking on the risks of a startup are rewarded with profits, fame and continued growth opportunities. Those who fail suffer losses and become less important in the markets. Many fail, lose money, and close the business.<ref>{{Cite news|url=http://untamedpotential.com/check-if-you-are-an-entrepreneur/|title=Check if you are an entrepreneur. - Untamed Potential|date=2017-08-28|newspaper=Untamed Potential|access-date=2017-11-22|language=en-GB}}</ref> <ref>Black, Ervin L. ''et al'' 2010. Entrepreneurial success: differing perceptions of entrepreneurs and venture capitalists. ''The International Journal of Entrepreneurship and Innovation''. '''11''' (3): 189–198. [http://iei.sagepub.com/content/11/3/189]</ref> The entrepreneur assumes all the risks and rewards of the venture and is usually the sole proprietary, a partner or the owner of the majority of shares in an incorporated venture. As the main decision maker the entrepreneur monitors and controls the business activities. | Entrepreneurs who prove to be successful in taking on the risks of a startup are rewarded with profits, fame and continued growth opportunities. Those who fail suffer losses and become less important in the markets. Many fail, lose money, and close the business.<ref>{{Cite news|url=http://untamedpotential.com/check-if-you-are-an-entrepreneur/|title=Check if you are an entrepreneur. - Untamed Potential|date=2017-08-28|newspaper=Untamed Potential|access-date=2017-11-22|language=en-GB}}</ref><ref>Black, Ervin L. ''et al'' 2010. Entrepreneurial success: differing perceptions of entrepreneurs and venture capitalists. ''The International Journal of Entrepreneurship and Innovation''. '''11''' (3): 189–198. [http://iei.sagepub.com/content/11/3/189]</ref> The entrepreneur assumes all the risks and rewards of the venture and is usually the sole proprietary, a partner or the owner of the majority of shares in an incorporated venture. As the main decision maker the entrepreneur monitors and controls the business activities. | ||
According to Joseph Alois Schumpeter (1883 - 1950) entrepreneurs regard profit as a standard for measuring achievement or success and discovered that they: | According to Joseph Alois Schumpeter (1883 - 1950) entrepreneurs regard profit as a standard for measuring achievement or success and discovered that they: | ||