chapter  1
17 Pages

An introduction to strategic entrepreneurial finance

Entrepreneurship is a process by which individuals convert a new (or existing) idea into a business venture in order to successfully pursue opportunities available in the marketplace. Entrepreneurship plays a key role in shaping economies throughout the world, and for several reasons it is imperative for economic growth. Six out of every ten new jobs are created by the entrepreneurial sector. In addition, the entrepreneurial sector is spearheading an industrial transformation from traditional industries to the high technology sector. Entrepreneurial firms are at the forefront of developing innovations with a clear competitive advantage, and entrepreneurship is believed to offset economic declines and moderate economic cycles. Entrepreneurial firms are also making significant inroads in developing global markets.