What must an entrepreneur assume when starting a business??

Entrepreneurship is the process of identifying a business opportunity or a gap and then coming up with ways and means to fill the gap. It involves coming up with ideas or means of achieving set goals by an individual.
Entrepreneurship involves taking risk by investing resources such as finances, time, labor and other factors required with an aim of making profit as a reward. It may involve creation or production of goods and services or filling the gap between producers and consumers.

An entrepreneur is the person who identifies a business opportunity and takes a risk to invest his resources with an aim of making profit as a reward. An entrepreneur creates new methods or ways to satisfy the consumer need thus closing an existing gap in the market.
An entrepreneur comes up with a process to utilize available resources and technology to achieve certain set goals such as production of goods and services to add value to the economy while at the same time making profit and benefiting the society.

1. Creativity

For an entrepreneur to succeed he/she should always think of new ideas and better methods of doing things.

2. Future-oriented

An entrepreneur is always looking at the future of his/her business. They always work to achieve certain set objectives and they know what exactly the want to achieve.

3. Flexibility

4. Persuasive

5. Passionate about their businesses

6. Risk taker

7. Good decision makers

8. Resourceful

9. Ability to solve problems, etc.

Key words: Entrepreneur, entrepreneurship

Level: High school

Subject: Business

Topic: Entrepreneurship