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What is the nature and the development of entrepreneurship?

Entrepreneurship is now such a popular buzzword that its actual meaning can get lost in the conversation. An entrepreneur is someone who starts a new business. While contractors and freelancers get paid for their own work, an entrepreneur invests money (either their own money or investors' money) in building a business that scales up and uses labor other than their own. The difference isn't simply size of the business. A solo freelance graphic designer with a few assistants might have a larger revenue than an entrepreneurial firm that uses artificial intelligence to create company logos, but they are still structurally different.


The development of an entrepreneurial firm is usually described as "scaling". Often it begins with the work of a few employees for a limited client pool, but will depend for its success on having a business plan that can grow rapidly to become a significant player in a particular niche. As such businesses grow, they will often change structure from a sole proprietorship to an LLC and then aim to go public with an IPO enabling the founders to sell their shares in the company.

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