An entrepreneur is an individual who creates a new business, bearing most of the risks and enjoying

most of the rewards. The process of setting up a business is known as entrepreneurship.

Types of entrepreneurs

i) Novice- Novice entrepreneurs are persons without prior experience (both minority and
majority) in the ownership of a business, founders and buyers or heirs of an existing
independent enterprise
ii) Portfolio- a sub-type of the habitual entrepreneur, are involved in a number of businesses
simultaneously.
iii) Serial- A serial entrepreneur is an individual who continuously takes initiatives to convert
opportunities into multiple new ventures throughout their career, taking on greater than
normal financial risks in order to do so.