An entrepreneur is a person who is able to identify business opportunities, mobilize the necessary resources i.e. financial, time, and human, and initiate a successful business activity.

An entrepreneur is a person who organizes, manages and assumes the risks of a new business or an enterprise.

This is a person who understands the risks and challenges of running a business. He initiates one, does the management and all that pertains to the business operations that may be required. He organizes resources, raises capital and engages in the real action of transactions in a market situation.

An entrepreneur is a person who identifies a viable business opportunity and takes the risks of investing his time and resources to make sure that the idea succeeds.

Hodgetts and Kuratko (1992); define an entrepreneur as an innovator who is capable of identifying opportunities, exploiting them and changing them into marketable ideas. He adds value in form of time, effort, money and skills with regard to implementation of ideas and ultimately reaps the rewards of his effort.

Peter Drucker defines an entrepreneur as one who always searches for change, responds and exploits it as an opportunity.

Wal defines an entrepreneur as an organizer and coordinator of the various factors of production to produce goods and services on a profit.

McClelland pointed out the qualities of an entrepreneur rather than a given definition. According to him an entrepreneur is energetic, moderate risk taker, has strong need for achievement and change