An entrepreneur is ordinarily called a businessman. He is a person who combines capital
and labour for the purpose of production. He organizes and manages a business unit assuming the
risk for profit. He is the artist of the business world.
In the words of J.B. Say, “An entrepreneur is one who brings together the factors of
production and combines them into a product”. He made a clear distinction between a capitalist and
an entrepreneur. Capitalist is only a financier. Entrepreneur is the coordinator and organizer of a
business enterprise. Joseph A Schumpeter defines an entrepreneur as “ one who innovates, raises
money, assembles inputs and sets the organization going with the ability to identify them and
opportunities, which others are not able to fulfil such economic opportunities”. He further said, “An
entrepreneur is an innovator playing the role of a dynamic businessman adding material growth to
economic development”.
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