We are in the era of knowledge and speed, everyone is looking for new ideas, new ventures, new creations, new gadgets, to sum up a new world. Almost all of us have heard about people, so and so, is an entrepreneur and has started their own business. And always hearing the word entrepreneur creates the image of a person who has a very modern mindset, who is starting his or her own ventures in this world or striking or trying to mold the world in their own ways. This is to specify the real or formal definition of entrepreneurship. But to get to the root meaning we need to observe the points which are given below. In Entrepreneurship the person (entrepreneur) is expected or supposed to create a modern business model, gather the physical and financial capital for the business, run it and is responsible for the failure or success of the business, keeping in mind the failure of a business. That is so because he is the owner of the capital, the one to invest or acquire other investors. In
