Young Wrexham

Entrepreneurs

An entrepreneur is someone that creates a new business or enterprise as opposed to working for someone else. This can be risky and unstable but also very rewarding.

Some entrepreneurs set up businesses so there is no limit on what they can potentially earn - if their business is successful then they make and keep the profits. This is also called self-employment, where the entrepreneur generates their own income, pays their own tax and national insurance.

Some entrepreneurs set up social enterprises which have charitable or community benefits so that the success of their enterprise is measured not in financial terms but by how much it benefits people or communities.

Whether you are a business or social entrepreneur you need to be very committed and determined to succeed. You might have a good idea or a skill that you would like to turn into a business or enterprise but preparation, research and planning will be key factors in ensuring you successful.

Most entrepreneurs share the same qualities:

• Passionate about what they want to do
• Have good ideas
• Have identified a gap in the market or have an awareness of opportunities
• Have a hobby or skill that can be turned into a business
• Are not scared to take risks
• Self-motivated
• Initiative
• Have a lot of enthusiasm
• The ability to be creative and innovative

Enterprising can mean you'll need to develop certain attitudes and skills - you'll need persistence, flexibility, a competitive spirit, drive and determination, a positive attitude and be resilient to set backs.

Being enterprising doesn't necessarily have to mean working for yourself, having enterprising skills could also help you to get a job, gain promotion or contribute to the growth of your employer's business.