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Three key characteristics of entrepreneurs


In general, there are three key characteristics of entrepreneurs/entrepreneurial activity referred to in the literature:

 

  • Innovation – an entrepreneur brings new expertise to the market, whether through introducing a new or improved product, a new method of production, a new market, a new source of supply or the reorganisation of management

 

  • Risk-taking – an entrepreneur undertakes a risk in entering the market without the guarantee that their idea will be successful

 

  • Profit-seeking – entrepreneurs are generally motivated by the opportunity to generate profit