What term describes an individual who seeks profitable opportunities and takes risks to set up a business?

The term that accurately describes an individual who seeks profitable opportunities and takes risks to establish a business is "entrepreneur." Entrepreneurs are known for their innovative mindset and willingness to take risks to turn ideas into viable business ventures. They identify gaps in the market and create solutions to address those needs, often starting from scratch or transforming existing concepts into new products or services.

Entrepreneurs play a crucial role in the economy by driving development and creating jobs, showcasing their ability to navigate uncertainty and challenge the status quo. This characteristic differentiation sets them apart from other roles such as investors, who primarily provide capital; managers, who focus on overseeing and directing organizational operations; and industry leaders, who typically refer to established figures with significant influence in a sector rather than individuals actively seeking new opportunities.