The concept of entrepreneurship has been defined and described by many in varying ways. So who finally is the entrepreneur that everyone talks of? Research on entrepreneurship and everyday life alludes to housewives starting businesses, reinforcing the unbefitting theory that entrepreneurship is limited to small businesses. For this reason, many fail to understand that most inventions are successful only because they were conceived in an entrepreneurial way. The word entrepreneur comes from a 13 th century French verb, “entreprendre”, which means to undertake or do something. This definition has been gradually redefined by economists by giving more attributes to this definition. In the 16 th century, it was related to business. By the 18 th century, risk was added to the definition, acknowledging the fact that a business venture had no profit guarantee. In the 19 th century, the need for skills was acknowledged in the definition. These skills are today called b...
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