Q.Who is an entrepreneur?

An entrepreneur is a person who sets up and runs a business enterprise by recognising an opportunity, bringing together the factors of production and bearing the risk, in the expectation of profit. A classic definition is J.B. Say's: an entrepreneur shifts resources from lower to higher productivity and yield.

Definition of Entrepreneur

The word entrepreneur comes from the French word entreprendre, meaning "to undertake." An entrepreneur is one who undertakes an enterprise.

A widely used definition, as asked in this AP Intermediate 2nd-year Commerce 2-mark question, is:

• J.B. Say: "An entrepreneur is one who shifts economic resources out of an area of lower productivity into an area of higher productivity and greater yield."

In plain terms, an entrepreneur is a person who conceives a business idea, organises the land, labour, capital and organisation required, takes decisions, and bears the risk and uncertainty of the enterprise in order to earn profit.