ABSTRACT
Entrepreneurship is defined as being alert to opportunities, willing to take risks, being creative and innovative and starting a new business. The original meaning of the word entrepreneur is someone who ‘takes between,’ i.e., buys goods at one price and sells at another, with the aim of making a profit. Other aspects include vision and leadership, independence and being proactive, as well as organising the factors of production. The contributions to the economy includes job creation, innovation and new forms of production and organisation. Entrepreneurship has developed over time from the merchants who took enormous risks to establish trade routes to the very successful technology entrepreneurs today. The entrepreneurial process includes identifying the problem, assessing the market potential and organising the finance and other resources required to start a new venture. The meaning of the term entrepreneurship has widened over time to describe anyone who has new ideas and can make things happen in the public and not-for-profit sectors.
