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Entrepreneurship plays an important role in the economic growth of the country. Entrepreneurship means doing something in an innovative and effective way. It is a dynamic process of creating wealth by individuals or groups by the use of various resources. Entrepreneurship helps one to start his or her own business. It also lays the foundation for women to become empowered.
The word entrepreneur is derived from the French word ‘entreprendre’. It means to undertake. An entrepreneur is a person who establishes his own business or industrial undertaking with a view to make profit. An entrepreneur is one who combines various factors of production such as process and raw material, and then converts the raw materials into finished product. He sells the finished product in the market to earn profit. He can also be described as a person who innovates, raises money, assembles input, chooses managers and sets the commercial organization. Entrepreneurs are people who initiate, organize, manage and control the affairs of a business unit to supply goods and service.
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