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Entrepreneur

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Summary of occupation

An entrepreneur is a person who organises and manages a business venture or enterprise with considerable initiative. They will assume the risk, responsibilities and potential rewards or failures of the venture.

They are often opportunists who can identify a niche in the market and have the ability to innovate, develop a business idea and generate new products and services.

Entrepreneurs find opportunities in an extremely diverse range of business or industry sectors. They play a key role in any economy.

Becoming a successful entrepreneur is not always easy. Many entrepreneurs have experienced both failures and successes. Being successful is assisted by planning your business venture properly and having resilience and optimism to overcome challenges.

Researching the market, developing a business plan and considering financial costs will assist you in working out if your business idea is viable.

To increase opportunities for success you should get advice on how to set up a business, how to employ and manage staff and be able to understand regulations and licensing requirements.

ANZSCO description: Not available for this occupation.
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Job prospects: Average
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Knowledge, skills and attributes

An entrepreneur needs:

  • a vision to recognise business opportunities;
  • ability to identify what people want and how to improve the business;
  • to be a creative thinker;
  • to be confident and enthusiastic;
  • commitment and determination;
  • resilience;
  • leadership and management skills;
  • team building skills;
  • decision making and problem solving skills;
  • communication skills;
  • time management skills; and
  • business and industry knowledge.
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Working conditions

Entrepreneurs can expect to work in a variety of conditions dependent on what business or industry their business venture is involved in.
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Salary details

Earnings for entrepreneurs may vary considerably depending on the commercial potential and the success of their business venture.
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Tools and technologies

Entrepreneurs use a range of general office equipment including computers, photocopiers and mobile phones.  They will generally need a valid driver's license.  Other tools and technologies will depend on the type of business venture the entrepreneur is involved in.

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Education and training/entrance requirements

You can become an entrepreneur without any formal qualifications. However, you are more likely to improve your chances for the success of your business venture if you have completed a formal qualification in business, commerce, entrepreneurship or a related field.

VET courses in business are widely available from TAFE Colleges and other registered training organisations throughout Western Australia.

You can also complete a degree majoring in business, commerce or entrepreneurship.

Curtin University of Technology offers a three year Bachelor of Commerce (Entrepreneurship). This is the only undergraduate degree currently specialising in entrepreneurship available in Western Australia.

Most universities in Western Australia offer relevant courses in business and commerce. Contact the universities you are interested in for more information.

Related courses

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Apprenticeships and traineeships

As an apprentice or trainee, you enter into a formal training contract with an employer. You spend most of your time working and learning practical skills on the job and you spend some time undertaking structured training with a registered training provider of your choice. They will assess your skills and when you are competent in all areas, you will be awarded a nationally recognised qualification.

If you are still at school you can access an apprenticeship through your school. You generally start your school based apprenticeship by attending school three days a week, spending one day at a registered training organisation and one day at work. Talk to your school's VET Co-ordinator to start your training now through VET in Schools. If you get a full-time apprenticeship you can apply to leave school before reaching the school leaving age.

If you are no longer at school you can apply for an apprenticeship or traineeship and get paid while you learn and work.

Related apprenticeships

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Recognition of prior learning

If you think you already have some of the skills or competencies, obtained either through non-formal or informal learning, you may be able to gain credit through recognition of prior learning.

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Entrepreneur Video Entrepreneur Occupation

An entrepreneur is a person who organises and manages a business venture or enterprise with considerable initiative. They will assume the risk, responsibilities and potential rewards or failures of the venture.

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