1. Promoters: Entrepreneurs are promoters because they can scan the environment, identify opportunities, marshal resources and implement the business.
2. Partners: Entrepreneurs solicit the participation of other persons in a business project because of the following:
(a) The degree of success or failure involved
(b) The complexity of a business idea may require more than one person to run it.
(c) The influence, experience and capacity of others may be useful
(d) Friendship or acquaintanceships may be consolidated through joint business association.
3. Shareholders: Potential entrepreneurs would participate as shareholders under the following circumstances:
(a) When the enterprises requires too much investment
(b) When they enterprises requires too much investment
(c) When they do want to commit their full time to the enterprises
(d) When risk may be reduced by spreading their investment portfolio
(e) When they do not have the capacity to manage such an enterprises.
4. Entrepreneurs participate as directors by contributing positive ideas to advance the enterprise’s objective.
(a) Ensuring compliance with all legal requirements.
(b) Safeguarding the interest of employees, especially women, particularly in the context of decent work.
(c) Safeguarding the interests of shareholders in the context of return on investment
(d) Ensuring that business is conducted honestly and diligently and is devoid of fraud and deceit
(e) Ensuring social responsibilities and expectations are met.
5. Organizers: For an entrepreneur to effectively control or monitor operations and facilitate communication with workers, it is advisable to have an organization structure for the enterprises. Organizational structure can be formal or informal, for instance:
(a) Various members of a family are assigned various positions
(b) Various employed assistant are assigned administrative positions in the running of a small business.
6. Initiating idea: Entrepreneur come up with new ideas. This is an important area for an entrepreneur as it determines his or her rate of expansion in business, e.g. new designs and use of products.
7. Taking risks: Entrepreneur takes risk in business, e.g. starting businesses which have an equal chance of success or failure. Resigning from a job to start a business is also risk taking.
8. Planning: Entrepreneur are aware of the importance of planning and of the limitations of planning in the context of the above roles.
9. Controlling: Entrepreneur are leaders rather than followers; they make final decisions and control all aspects of business operations.
10. Coordinating: Entrepreneur must coordinate all the production factors needed in the business, i.e. capital, labor and land.
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