Entrepreneurship & small business management pdf

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Please discuss this issue on the article’s talk page. Entrepreneurship is the process of designing, launching, and running a new business which is often initially a small business. The people who create these businesses are called entrepreneurs. Entrepreneurship has been described as the “capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit.

The entrepreneurial process is fundamentally uncertain because opportunities cannot be discovered or identified prior to their actualization into profits. What appears as a real opportunity ex-ante might actually be a non-opportunity or one that cannot be actualized by entrepreneurs lacking the necessary business skills, financial or social capital. Entrepreneurs act as managers and oversee the launch and growth of an enterprise. Entrepreneurship is the process by which either an individual or a team identifies a business opportunity and acquires and deploys the necessary resources required for its exploitation.

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