Entrepreneurship is the process of starting a new business that adds some value to the world by solving some specific problems. Entrepreneurship is 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 combined with land, labor, natural resources and capital can make a profit. Those who create these businesses are called entrepreneurs. Entrepreneurial spirit is characterized by innovation and risk taking and is an essential part of a nation’s ability to succeed in constantly changing and increasingly competitive global market place.
Entrepreneurship in its truest form is about identifying a gap in the market and creating a product of use to fill that hole. Entrepreneurship is not solely about making money- it is about changing and enriching the lives for better. It is about improving people’s lives through creation of products or launching services that makes the lives of people easy. If one’s business does not add value to the lives of people then it is unlikely to survive. The business that makes nothing but money is a poor business.

Entrepreneurship is the act of being an entrepreneur. Entrepreneurs act as managers and oversee the launch and growth of an enterprise. Entrepreneurship is the process by which either an individual or a team identifies a business opportunity and acquires and deploys the necessary tools and resources required for its utilization.
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