Q.Explain the characteristics of entrepreneur.

An entrepreneur is the driving force behind an enterprise. The main characteristics are hard work, self-confidence, innovativeness, risk-bearing, sound decision-making, leadership, foresight and optimism.

An entrepreneur is a person who conceives a business idea, organises the factors of production, and undertakes the risk of running the venture in the hope of earning profit. It is these personal traits that distinguish an entrepreneur from an ordinary businessperson.

Characteristics of an entrepreneur:

1. Hard work: An entrepreneur is willing to work long hours with full dedication, especially in the early stages when the enterprise is being established.
2. Self-confidence: He has firm belief in his own abilities and ideas, which helps him face challenges and convince others such as investors and employees.
3. Innovativeness and creativity: An entrepreneur constantly thinks of new products, better methods and fresh ways of satisfying customer needs. Innovation keeps the enterprise competitive.
4. Risk-bearing: Business involves uncertainty. An entrepreneur is prepared to take calculated risks and accept the possibility of loss for the chance of profit.
5. Decision-making ability: He must take prompt and correct decisions about products, finance, markets and people, often with incomplete information. …