Advisory and consultancy
The transformation driver
An entrepreneur is an individual who creates a new business, bearing most of the risks and enjoying most of the rewards. The process of setting up a business is known as entrepreneurship. The entrepreneur is commonly seen as an innovator, a source of new ideas, goods, services and business/or procedures. Entrepreneurs have a passion for the organisational mission and defining values, combined with determination and tenacity to deal with setbacks. They are strategic and see the big-picture view of customer pain-points, understanding how technology, people and processes within an organisation can solve these.
Responsibilities will vary, but innovation is at the heart of being an entrepreneur. Other key skills for an entrepreneur are drive and insight. They need to plan meticulously to be successful and approach their business using their acumen and analytical mind. Successful businesses will evolve and change orientation, so continuous learning is essential. Similarly, great leadership skills are required.
No business operates in isolation, so excellent collaboration skills are also essential.
Entrepreneurs may fill niche areas of a market, and employ many people when their businesses are successful.
An entrepreneur may come from many backgrounds, but those with an accountancy qualification are well placed to set the strategy of the business, manage rsks and fully understand the financial implications so as to avoid over-stretching, especially in the early years.
Opportunities in Fintech
Learn more about the transformative field of Fintech and what opportunities there are for finance professionals in ACCA's latest research.