Lesson 5

• An entrepreneur is someone who starts or runs a new business venture with an innovative idea that has potential to grow into something bigger than just a small-scale operation.
• The entrepreneur is the person responsible for starting, managing, and growing a business.
• Entrepreneurs are people who start their own businesses.
• Entrepreneurs can be classified according to their level of involvement in the business, such as sole proprietorship, partnership, corporation, cooperative, franchisee, etc.
• The role of entrepreneurs includes identifying opportunities, developing ideas, creating value, managing resources, taking calculated risks, and being adaptable to change.
• Entrepreneurs are often seen as risk takers because they invest their time, money, and resources into creating a new product or service.