The there are far more tax deductions available to entrepreneurs, allowing you to maximize your tax savings by owning your own small business. An entrepreneur is someone who organizes a set of business systems to create a product or service in order to gain profit. Thus usually involves the establishment of a new venture while adopting some of the risk and being ready for failure. While inherently more risky than getting a “safe” job working for someone else, the opportunities often far outweigh the risk if you are willing to put forth the effort required to start a business.