An entrepreneur is an individual who owns a firm, business, or venture, and is responsible for its development. Entrepreneurship is the practice of starting a new business or reviving an existing business, in order to capitalize on new found opportunities.

Generally, entrepreneurship is a tough task as a large percentage of the new businesses fail in the very first year. Entrepreneurial activities differ based on the type of business they are involved in. It is also true that entrepreneurial ventures create a number of new job opportunities.

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