The clear vision of what it means entrepreneurship and recognition of the role of the entrepreneur is very important to start the entrepreneurial process, as doing small business requires motivation, commitment, responsibility, skills and above all confidence. When these attributes will be connected to each other increases the level of preparedness of prospective entrepreneurs to enter into a business. In economics, entrepreneurship combined with land, labor, natural resources and capital can produce profit. It is a process of identifying opportunities in the market place, arranging the resources required to pursue these opportunities and investing the resources to exploit the opportunities for long term gains. In fact, entrepreneurship is a tool to transform the personal and organizational visions into plans and plans into reality. The capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit.Entrepreneurship is concerned with making dynamic changes in the process of production, innovation in production, new usage for materials etc. It is a mental attitude to take calculated risks with a view to attain certain objectives. It also means doing something in a new and better manner. The most obvious example of entrepreneurship is the starting of new businesses. It is always associated with innovation and involves allocation of resources in the points where they give greater effect.


entrepreneurship, entrepreneur, small business, innovation, entrepreneurial process

JEL Codes: L26, M13, O3


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