Entrepreneur is the one who has the ability to develop, administer, run and organize a new business while bearing most of the risks to make profit. The word entrepreneur derives from the Latin word ‘prendere’ meaning to ‘take’ thus: entrepreneur is the one who takes risks.
Entrepreneurs are the backbone of the nation. An entrepreneur uses all his abilities of leadership, rationality, innovation, bravery, creativity, independence and decision making. Entrepreneur is the person; entrepreneurship is the process of initiating a new business while enterprise is the object. An entrepreneur not only reduces risks but also increases the likelihood of success.