1. The original entrepreneurs were traders and merchants.

The first known instance of humans

trading comes from New Guinea around 17,000 BCE, where locals exchanged obsidian, a black
volcanic glass used to make hunting arrowheads for other needed goods. These early
entrepreneurs exchanged one set of goods for another.
The first known instance of humans trading comes from New Guinea around 17,000 BCE when
locals exchanged obsidian, a black volcanic glass used to make hunting arrowheads for other
needed goods. Around 15,000 BCE, the first animal domestication began taking place, and
around 10,000 BCE, the first domestication of plants. This step toward agriculture was critical for
the advancement of the human species. Now, instead of having to continually move around as
nomadic tribes, seeking new places to hunt and to gather, we could stay in one place.
Agriculture allowed us to start to form larger stationary communities and cities (the basis for
civilizations), which set the stage for the development and spread of human knowledge.
2. The difference between Businessman ship and Entrepreneurship
It can be quite difficult to clearly explain the difference between a business and an
entrepreneurial attitude, but, as this is something I have been reflecting on a lot recently, I
would like to share my draft outcome with you.

In my opinion what distinguishes a Businessman from an Entrepreneur is the mental model (way of
thinking): a Businessman is more an ‘Analytical Thinker’ while an Entrepreneur is more a ‘Possibility
Thinkers’.

This means that, for example, a Business man main focus is not on innovation, but more on making sure
a company is making profit. Entrepreneurship on the contrary focus on generating new value, and this
value could be social, emotional, aesthetic and/or financial.

I will write another post on the concept of value as it is a quite complex topic. What counts for now is
that Value for an entrepreneur is not necessarily profit, but can also be something less tangible but
considered more rewarding for the person running a business.

Also, whilst a Businessman focus more on small improvements of an existing situation, an Entrepreneur
tries to imagine how things may be in the future and work toward making that idea a reality (this
attitude, by pushing the boundaries of what we know, entail higher risks but also higher rewards when
successful).

To simplify, the main focus for a Businessman is:

Administration of business

Search for truth, Short-term

Logical, Linear, Utility, Incremental

Features
Facts, Verbal, Measure

Minimal Risks, Predictable

Smaller Rewards

Profit

While, on the contrary, the main focus for an Entrepreneur is:

Invention of business

Search for what is interesting, intuitive, long-term

Holistic, Significance, Meaning, Leap forward

Benefits

Emotion, Visual Thinking

Risk, Uncertainty,

Potentially High Rewards

Value

3. An entrepreneur's life, however, is not for the faint of heart. Building a business from the
ground up takes guts. Whether you’re years into scaling your startup or dabbling with the idea
of being your own boss, use this guide to ensure you’re prepared to navigate the risks of
entrepreneurship.
While the word “risk” might make you think of chaos and unpredictability, in the context of
entrepreneurship, risk-taking is a calculated and measured byproduct of starting a business.
Risk-taking in entrepreneurship is the process of identifying, evaluating, mitigating, and trying
out potential opportunities and strategies that may help you build or grow your business but
could also lead to personal or professional loss.
According to the Harvard Business Review, business risks are bucketed into three categories:
preventable risks, strategy risks, and external risks.
Preventable risks stem from within an organization (whether a team of one or 1k), are entirely
controllable, and should be avoided at all costs. Examples of preventable risks include lying to
potential investors, ignoring environmental regulations, or engaging in illegal business activity.
Strategy risks are beneficial and necessary in entrepreneurship. These risks arise from strategic
opportunities that show potential for return on investment. Some examples include launching a
new product line, expanding into another country, or bringing on a new investor.
The final category is external risks. As the name suggests, these risks come from beyond your
business operations and are outside of your control. For example, you’ll likely have little to no
 influence over current economic conditions or states of emergency, but they may impact the
success of your ventures.
4. Entrepreneurship is seen by Philippine society as a very good means to improve one’s economic
and social standing. This social and cultural orientation serves as one of the major drivers
promoting entrepreneurship. The large domestic market with high consumer spending as well as
good education and training also drives the population to try entrepreneurial activities. There
are also several government programs that support entrepreneurship.
On the other hand, there are several constraints to the development of entrepreneurship in the
country:
A lack of financial support and working capital, hindering business expansion.
Poor information dissemination – the inconsistent implementation of government policies and
programs that support entrepreneurship;
Poor provision of training aimed at expanding and sustaining businesses.
5. Entrepreneurship Accelerates Economic Growth;
By creating new products and services, they stimulate new employment, which ultimately
results in the acceleration of economic development. So public policy that encourages and
supports entrepreneurship should be considered important for economic growth.
Large number of new jobs and opportunities.
Utilizing the existing resources in the most effective ways.
Solving problems that existing products and technology have not yet solved.
6. Entrepreneurs may even create entirely new industries that become the engines of future
growth. The new products or services created by entrepreneurs result in new wealth from the
new markets. Additionally, higher earnings due to entrepreneurship can help boost national
income. Entrepreneurs create employment opportunities not only for themselves but for others
as well. Entrepreneurial activities may influence a country's economic performance by bringing
new products, methods, and production processes to the market and by boosting productivity
and competition more broadly.
7. Essentially, entrepreneurship is the process of developing, organizing, and running a new
business to generate profit while taking on financial risk.