1, What is Entrepreneurship?

Entrepreneurship is the act of creating a business or businesses while building and scaling it to
generate a profit.

However, as a basic entrepreneurship definition, it’s a bit limiting. The more modern
entrepreneurship definition is also about transforming the world by solving big problems. Like
initiating social change, creating an innovative product or presenting a new life-changing solutio

What Is the Meaning of Entrepreneurship?

The meaning of entrepreneurship involves an entrepreneur who takes action to make a change in
the world. Whether startup entrepreneurs solve a problem that many struggle with each day,
bring people together in a way no one has before, or build something revolutionary that advances
society, they all have one thing in common: action.

It’s not some idea that’s stuck in your head. Entrepreneurs take the idea and execute it.
Entrepreneurship is about execution of ideas.

2 Entrepreneurship can broadly be defined as the creation or extraction of value[1][2][3]. With

this definition, entrepreneurship is viewed as change, which may include other values than
simply economi

Abstract
The literature of small business and entrepreneurship is explored. It is established that, although
there is an overlap between entrepreneurial firms and small business firms, they are different
entities. Using the 1934 work of Schumpeter and recognizing the additions to the field of current
writers, a conceptual framework is established for the differentiation of entrepreneurs from small
business owners.