An entrepreneur is typically described as someone who starts a business. A more thorough definition will include the person who uses innovation and business knowledge to develop new products or services. It can most clearly be seen in the self-employed business owner, the independent consultant or the organization spin-off. Recently, entrepreneur has been used to describe those active in political or social forms of activity where the individual has stood on their own in a particular field or topic. Entrepreneurs are characterized as someone willing to take risks, exercises initiative and is an innovator. The modern entrepreneur can be found in every area of society.

One of the side effects of the economic downturn is the growth of entrepreneurship. As employees are downsized out of corporations and are unable to find work, the entrepreneurs decide to make their own work by forming companies and starting a business. This surge of entrepreneurship can be seen in the interest of companies in start-ups and the growing optimism that businesses have for success.

This type of environment is what provides a catalyst for the “garage office” which gave the world some of the most innovative and advanced products produced. By freeing entrepreneurs from the constraints of traditional business practices, they can create new processes, new methodologies and ultimately new technologies that can revolutionize the world. In addition, the free enterprise market can benefit from the introduction of new businesses that are leaner, more productive and highly motivated to succeed.

While no one wishes for economic downturns, the entrepreneur thrives in an environment where change is not only needed, it is celebrated. Being able to venture out into new paths gives the entrepreneur purpose and generates activity in a market that can sometimes become bogged down and stale. Entrepreneurs can be as simple as a child with a roadside lemonade stand, or as complicated as the corporate executive who starts a new social media avenue in the dining room. The world needs them both.