- A person who has the skills and initiative to establish their own business. This person also manages the business and assumes the financial risks associated with the venture.
employer, executive, contractor, founder, self employed, businessperson
Related Terms and Acronyms
- Joint Venture — Definition,
- A partnership between two or more parties for the purpose of purchasing, owning, and/or developing real estate for a specific purpose and duration.
- Not-for-Profit — Definition,
- An Organization operated solely for: social welfare, civic improvement, pleasure or recreation, or any other purpose except profit.
- Proprietor — Definition,
- The owner of a business or property.
- Self Employed Person (SEP) — Acronym,
- A person who runs a trade or business, rather than working as an employee for someone else. You are self-employed if you are a sole proprietor or a partner working in a business. You can be an employee and self-employed at the same time if you have an independent business outside your regular employee hours. To qualify for many business tax exclusions and deductions, the enterprise must make a profit in three of five years. In most cases in order to qualify you must take and average of the last 2-3 years tax assessments.
- Small- and Medium-sized Enterprises (SMEs) — Abbreviation,
➥ A term widely used by the World Bank and the World Trade Organization (WTO).
- Limits banks place on businesses to determine there size.