Entrepreneurship and Its Economic Significance, Behavior and Effects

Entrepreneurship is the practice of starting new organisations or revitalising mature organisations, particularly new businesses generally in response to identified opportunities. Entrepreneurship is often a difficult undertaking, as a vast majority of new businesses fail. Entrepreneurial activities are substantially different depending on the type of organisation that is being started. Entrepreneurship ranges in scale from solo projects (even involving the entrepreneur only part-time) to major undertakings creating many job opportunities. Many 'high-profile' entrepreneurial ventures seek venture capital or angel funding in order to raise capital to build the business. Angel investors generally seek returns of 20-30 per cent and more extensive involvement in the business. Many kinds of organisations now exist to support would-be entrepreneurs, including specialised government agencies, business incubators, science parks, and some NGOs. This book presents the latest thinking in this vibrant and essential area.