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Banking Term: Entrepreneur

May 4, 2015 12:14 IST

    Banking Term:  Entrepreneur

    He is an economic agent who perceives market opportunities and assembles the factor of production to exploit them in a firm. An individual who, rather than working as an employee, runs a small business and assumes all the risk and reward of a given business venture, idea, or good or service offered for sale.

    • Entrepreneurs play a key role in any economy.
    • These are the people who have the skills and initiative necessary to take good new ideas to market and make the right decisions to make the idea profitable.
    • The reward for the risks taken is the potential economic profits the entrepreneur could earn.

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