A person who takes the risk of starting a new business is called an entrepreneur.
An entrepreneur creates a firm to realize his idea, known as entrepreneurship, which combines capital and labor to produce goods or services for profit.
Entrepreneurship is very risky but can also be very profitable as it serves to create economic wealth, growth and innovation.
Securing funding is key for entrepreneurs: financial resources include SBA loans and crowdfunding.
How entrepreneurs file and pay taxes will depend on how the business is organized in terms of structure.