The act of creating a business or businesses is known as Entrepreneurship. This business or businesses are then scaled to generate profit. Generation of profit is not the only benefit promised by Entrepreneurship – there a number of other advantages which include the introduction of employment opportunities for people and both direct and indirect impact upon the country’s economy.
What is Entrepreneurship
However, the above entrepreneurship definition is quite basic and thus limiting. A more modern definition of Entrepreneurship involves the transformation of the world by resolving big problems. This can include initiation of a social change, creating an innovative product or presenting a new solution which proves life-changing for the people.
What the definition of entrepreneurship does not tell you is that the entrepreneurs (the people who do entrepreneurship) do this to take their dreams and careers into their own hands and lead it in whichever direction they feel is right. It can also be described as building life at your own terms since no one can instruct or direct you over any decision you wish to take. Hence, there are no bosses or restricted time tables or any other obstacle to holding you back. In short, Entrepreneurs are the people who are able to take the first steps for making the world a better place for everyone living in it.