Entrepreneurship is known as the activity of setting up a business, taking on financial risks in the hope for profit. It is also defined as the capacity and willingness to develop, organise and manage a business venture along with any of its risks in order to make a profit.
In order to be a successful entrepreneur, you should bring to the market innovative products or services and have a good marketing strategy in order to reduce your costs as much as possible.
The entrepreneur is the person that:
Adopts an continuous active and innovative behaviour
Accepts deliberately to assume financial risks to develop new projects
To sum up, we could say that the entrepreneur is the person that takes (financial) risks and has the capacity and willingness to develop, organise and manage a business in order to obtain profit by inputting innovation and being adaptable, while selling its products or services through an efficient marketing strategy.
The entrepreneur can work as an individual or as part of a company.
Types of entrepreneurship
We have 4 types such as:
Free commerce – does not require a specific qualification; selling or intermediating activity
Handicrafts activities – handmade products and object that require a pre-apprentice period
Well-regulated activities – individual activities that require a certain specialisation (lawyers, doctors, construction, etc.)
Concessions – requires specific authorisation from the local authorities or government (taxi, communication services, etc.)
What does an entrepreneur mean for you?