ABSTRACT
This chapter discusses the concept and approaches of entrepreneurship and entrepreneur. It illustrates both sustainable entrepreneurialship in the use of local resources and the diversity of opportunity. Entrepreneurship theory is one of the most fragile sections of modern economic theory. It is one of the most important engines of economic growth and local development. According to Knight, entrepreneurs are the owners of the company and thus they are entitled to profit. Getz and Brown suggest that successful wine tourism is based on three critical factors: the core wine product, the destination and the cultural product. However, in tourism the financial barriers to entry and start up costs are comparatively low and entrepreneurs often require but a small capital to start-up a business, fund through their own personal sources and possibly leasehold agreements. The chapter concludes that economic motivators of entering entrepreneurship are less important in tourism.
