Black Money is both an economic and social problem. It is tax-evaded income. it can be earned both through legal and illegal means. Its legitimate source is that the income-earners do not reveal their whole income for tax purposes.
The word entrepreneur originates from the French word, entreprendre, which means "to undertake." In a business context, it means to start a business.
Entrepreneur is a person who habitually creates and innovates to build something of recognized value around perceived opportunities.
The concept of entrepreneurship has a wide range of meanings. On the one extreme an entrepreneur is a person of very high aptitude who pioneers change, possessing characteristics found in only a very small fraction of the population.
Types of an Entrepreneur:
ØInnovating Entrepreneur:
He is the one who introduces something new into the economy or employs a new technique of production.
ØAdoptive or Imitative Entrepreneurs:
They adopt best practices. Imitative entrepreneurs are revolutionary and important.
ØFabian Entrepreneurs:
They are lazy and shy and lack the will to adopt new methods. They follow the old traditions and avoid risk taking.
ØDrone Entrepreneurs:
Against any change in production method even at the cost of losses
ØForced Entrepreneurs:
They become entrepreneurs on account of circumstances.
