I recently wrote this article for Forbes as i feel that the nature, context and value that entrepreneurship brings to the world is evolving fast, and hence is its definition. Read the full piece here: Rethinking the definition of ‘Entrepreneur’
Entrepreneurs are integral to the success of the U.S. economy. According to figures from Forbes, over 50% of the working population is at a small business, equating to over 120 million people. That’s a lot of competition.
Calling yourself an entrepreneur is to define yourself as many things: You are declaring yourself an innovator and a risk taker, and may find yourself pigeonholed with assumptions and stereotypes. However, an entrepreneur cannot be defined by a group of characteristics.
As the traditional route of finding employment has become increasingly challenging, the aspiration to become an entrepreneur has risen, making the original definition of entrepreneur problematic. Forty-three percent of Americans believe there are good opportunities for entrepreneurship, up by more than 20% since 2011. These days, you can be an entrepreneur if you’re a mother making wedding cakes during the school day, or a young horseback rider setting up a business introducing buyers to sellers of the finest dressage horses. You don’t need a flashy office or lots of space; 69% of new businesses in the U.S. start at home, and 59% of established businesses are home-based. So then the term entrepreneur — what does it actually mean?