The Characteristics Of Individual Entrepreneurs Study

With China's rapidly growing economy, it is experiencing a period dominated by the great transformation of social and economic structures. Many major state-owned enterprises have begun to lay off employees to improve their competitiveness , and most small and medium-sized state-owned firms are undertaking reforms through mergers and acquisitions, bankruptcy, contracting and shareholding restructuring. Thus many people have lost their jobs. State-owned enterprises are no longer the main providers of jobs. Swarms of graduates who resulted from the continuous expansion of China's university enrollment also face a deficit of job opportunities due to the underdeveloped private economy in the west of China. Consequently , entrepreneurship becomes the only option available for those laid-off workers and graduates. Moreover, many opportunities also appear during this transformation period and entrepreneurship is also a means by which people can capitalize on them. As a result, an increasing number of people choose to start up their own business. Meanwhile, research on entrepreneurship and entrepreneurs is also on the rise. A case study on ChuangFei School is conducted to explore the characteristics a successful entrepreneur in West China must acquire. The paper concludes that continuous learning and a entrepreneurship-friendly atmosphere will help increase an entrepreneur's chances of success and suggests that government departments should decrease interference to lower barriers to market entry for entrepreneurs.