Entrepreneurship

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Entrepreneurship is the creation or extraction of economic value in ways that generally entail beyond the minimal amount of risk (assumed by a traditional business), and potentially involving values besides simply economic ones.

An entrepreneur (French: [ɑ̃tʁəpʁənœʁ]) is an individual who creates and/or invests in one or more businesses, bearing most of the risks and enjoying most of the rewards.^[1] The process of setting up a business is known as "entrepreneurship". The entrepreneur is commonly seen as an innovator, a source of new ideas, goods, services, and business/or procedures.

More narrow definitions have described entrepreneurship as the process of designing, launching and running a new business, often similar to a small business, or (per Business Dictionary) as the "capacity and willingness to develop, organize and manage a business venture along with any of its risks to make a profit".^[2] The people who create these businesses are often referred to as "entrepreneurs".^[3][4]

In the field of economics, the term entrepreneur is used for an entity that has the ability to translate inventions or technologies into products and services.^[5] In this sense, entrepreneurship describes activities on the part of both established firms and new businesses.