After the merchant completely sold off the good, the profits were divided between both with capitalist taking around 70-75 percent, while the merchant- adventurer getting the remaining 25-30 percent. The capitalist, being the passive risk bearer, and the merchant, bearing the physical and emotional risk used to trade the goods. As a go between, Marco Polo would sign a common contract with a capital provider (capitalist) to sell his goods, which provided loan to the merchant-adventurer at a high interest rate, including insurance. An earliest example of an entrepreneur as go- between is Marco Polo, who attempted to establish trade routes to Far East. The term entrepreneur, in French, if literally translated, means “go-between” and has been used since the 12 th Century. “Entrepreneurs are innovators who use a process of shattering the status quo of the existing products and services, to set up new products, new services.”-SCHUMPETERĪfter studying the above definitions which are given by other experts, we conclude that “entrepreneur is an individual (or group of individuals) who establishes, organizes, operates and assumes the risk for new business enterprise.” He shifts economic resources out of an area of lower and into an area of higher productivity and greater yield.” -J. By selling the product in the market he pays rent of land, wages to labour, interest on capital and what remains is his profit. “An entrepreneur is an economic agent who unites all means of production-land of one, the labour of another and the capital of yet another and thus produces a product. “An entrepreneur is a person who pays a certain price for a product to resell it at an uncertain price, thereby making decisions about obtaining and using the resources while consequently admitting the risk of enterprise.”-RICHARD CANTILLON He searches for change and responds to it. Current Scenario of Entrepreneurship in IndiaĮntrepreneur – Definitions of EntrepreneurĪn entrepreneur is a person who starts an enterprise.Qualities that make an Entrepreneur Successful.Role of Entrepreneurs in Economic Development.Ways of Developing Entrepreneurial Competencies.Factors Motivating the Growth of Entrepreneurs.Decisions taken by Entrepreneurs to Establish a New Business Enterprise.Entrepreneur: Definitions, Characteristics, Classification, Decisions, Competencies, Role, Qualities and Rewards Current Scenario of Entrepreneurship in India. Role of Entrepreneurs in Economic Development 15. Ways of Developing Entrepreneurial Competenciesġ4. Factors Motivating the Growth of Entrepreneurs 10.