Definition: One who starts or assumes control of a business or other independent enterprise, often employing innovation and more than an ordinary degree of risk.
The terms entrepreneur and small-business owner are often used interchangeably. This is a mistake. To be an entrepreneur to be not just content in owning a business. Entrepreneurs are focused on building and growing an enterprise, whether it's a brand-new business or transforming an existing company through innovation and making the most of opportunities hidden to others. What's more, once that venture has taken off, many entrepreneurs are ready to move on to the next thing. Their efforts may range in scale from new solo operations to venture-capital funded startups. One common denominator is the risk required for the undertaking. This willingness to take on risk may be what most differentiates entrepreneurs from everyday business owners.