Entrepreneurship is basically an activity in which a person or a group set up business and take financial risk in the hope of getting some profit.
If we look in broad term Entrepreneurship is related to solving social problem, creation of innovative products and commercializes it.
If we look at the functions of Entrepreneurship it involves from generation of idea to introduction of product in the market, also from raising funds for the proper working of operations to dealing with officials.
This flow chart shows how an entrepreneur does an Entrepreneurship and with the objective of creating an Enterprise.
The Entrepreneurship can be categories in various fields some of them are as follows:
1). Women Entrepreneurship: In this type the owner or the entrepreneur is woman, all the major work is done by a woman Entrepreneur.
2). Rural Entrepreneurship: In this the root of the enterprise lies in rural area, various policies and plans has been formulated by governments to encourage more such entrepreneurship.
3).Social Entrepreneurship: This type of enterprise creates products that are for the social welfare, this type of enterprise is generally non-profit, but they can be profitable. Their sole purpose is for the welfare of the society.
Entrepreneurship is a process through which an entrepreneur takes financial risk and creates an enterprise in hope of generating profit through it.
Entrepreneurship can be categorized in various ways according to from where and how an enterprise is formed.
There are various factors that can affect Entrepreneurship, it involves taxes, legal issues, the management team, Capital availability, Political Factors ,etc.