Entrepreneur. Small business owner. Start-up. Self-employed. Independent contractor. Freelancer. Side hustler. These are all words that describe the same idea – an individual or small group decide to go into business for themselves by starting their own venture. These ventures take one of four forms – sole proprietorship, partnership, corporation, or co-operative. A gig worker can also be an entrepreneur. According to Statistics Canada, gig workers are unincorporated self-employed workers who report their income through their tax return.
A single definition of entrepreneur is difficult to find. It can include selling a product or service to make a profit. Entrepreneurs are innovative. They identify a need in their environment and develop solutions to address it. In the past, the profile of an entrepreneur was someone working seven days a week for years to grow and launch a business, without taking any time off. Being an entrepreneur is hard work. It requires time and dedication. However, there is no one profile of a successful entrepreneur. People of all ages and backgrounds successfully launch and grow their own businesses. Not everyone runs their business full-time. There are a lot of e-commerce and technology-based side hustles. Digital marketing allows more widespread reach for lower cost.
Entrepreneurship provides people with the opportunity to develop and grow their ideas and innovations into a business. It is an opportunity to set your own limits to how big you want to grow. You can choose to be a small sole proprietor who works part-time, or to grow an idea into a large, multinational organization. Entrepreneurship is an opportunity to be your own boss and create your own destiny.
