Meaning of the word gumption in English

What does gumption mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

gumption

US /ˈɡʌmp.ʃən/
UK /ˈɡʌmp.ʃən/

Noun

shrewdness and initiative

Example:
It takes a lot of gumption to start your own business.
He showed real gumption in tackling the problem.