The green shoots of entrepreneurship give an economy its vitality. They give rise to new products and services, fresh applications for existing products and services, and new ways of doing business. Entrepreneurship is the willingness and ability of an individual to seek out investment opportunities, establish and run an enterprise successfully. The concept of entrepreneurship has been associated with several activities concerned with the establishment and operations of the business - enterprises. It is the ability to create and build something from practically nothing. It is initiating, doing, achieving, risk - taking and building an enterprise.

Entrepreneurship means all the activities that a person has to do to start and run businesses in line with social, political and economic changes. Businesses include activities related to consumer likes and dislikes, feelings and behaviors, likes and dislikes and the introduction of business plans to meet all of consumer expectations. Entrepreneurship is seen as a ‘new product’ that will enable entrepreneurs to develop a new type of business organization and new business activities that address the changing needs of the community. 

Entrepreneurial climate depends on the existing economic system. Existing social and political establishment and existing economic policies of Government determine the economic system. Entrepreneurial development is largely due to the existence of this economic system. Business development functioning as a new component, economic structure and economic transformation. The economic system varies from country to country, so the business development process varies.

An entrepreneur has a wide range of options regarding his or her project in various fields such as product / service, market, technology, equipment, production scale, time division and location. Therefore, the identification of investment opportunities (projects) requires an understanding of one’s work environment, potential investment sensitivity, a hypothetical analysis of various factors and the probability of luck. This chapter deals with the evaluation and evaluation of project ideas, the steps of the project identification process and the consideration of involvement in the identification of new projects by an existing company.

The term “entrepreneur” was coined in America in the late 70’s. A few executives of major corporations in the United States left their jobs to start their own small businesses because the top executives in these companies were not accepting new ideas. Managers who have become entrepreneurs find amazing success in their new businesses. Some of them were dangerous to companies they left a few years ago. This type of businessman came to be known as entrepreneurs. Such a brain drain is a global phenomenon and is not limited to the United States. Industrialists around the world began designing routes and suspending the flight of their most prominent officers. In 1976 Norman Macras wrote to the London Economist that large successful companies should become ‘business partners’’.

An Entrepreneur is an individual who creates a new business, bearing most of the risks and enjoying most of the rewards. The process of setting up a business is known as entrepreneurship. An Entrepreneur is commonly seen as an innovator, a source of new ideas, goods, services and business procedures. Entrepreneurship plays a key role in any economy by using the skills and initiative necessary to anticipate needs and bringing good new ideas to market.

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