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.