Which of the following best defines an entrepreneur?

The essence of entrepreneurship lies in taking risks and initiating new business ventures. The definition that accurately captures this concept is the idea of a person who risks resources to start a business. Entrepreneurs are typically characterized by their willingness to invest time, money, and effort into developing new ideas and transforming them into viable businesses, often facing uncertain outcomes.

This definition emphasizes the proactive nature of entrepreneurs, who identify opportunities and questions the status quo, thus fostering innovation in the market. By risking their own resources, including capital and personal time, entrepreneurs play a crucial role in driving economic growth and creating jobs. This distinct focus on risk-taking and resource management sets entrepreneurs apart from other roles in the business environment, such as employees or managers whose functions do not typically encompass the same level of risk or independent initiative.