What is Entrepreneurship? How to Become an Entrepreneur

14 minute read
how to become an entrepreneur

With the rise of technology and increased access to capital for entrepreneurs of all types, entrepreneurship is becoming the career path of choice for many. The role of an entrepreneur continues to evolve and, as of 2020, there were 582 million entrepreneurs around the world, with 62 per cent of people agreeing that entrepreneurship is a good career. From small businesses to international companies, entrepreneurship is essential for keeping Canada’s economy healthy and balanced.

So, what does it take to be an entrepreneur, and how can you become one? What is the impact of entrepreneurship on society, and why is this role so important? We’ve created a comprehensive introduction to entrepreneurship that covers the skills, steps, and basic business resources you’ll need to become an entrepreneur. We’ve also included testimonials and business advice from successful entrepreneurs to help you better understand the important role of an entrepreneur.

What is the Definition of Entrepreneurship?

The basic definition of entrepreneurship is the act of starting a business with the intention of turning a profit. However, in our modern age, the concept of entrepreneurship has expanded to include the act of transforming the world by solving large-scale problems. With the advent of the internet, entrepreneurship has the power to create social change through the creation of a service or product that affects individuals in positive ways and addresses social issues with innovative ideas. 

Entrepreneurship is also an opportunity for self-motivated individuals to create their own career path and income, working for themselves to develop goods or services that people want or need. It’s a risky approach to making a living, but it can result in amazing rewards and lasting success.

What is an entrepreneur?

While there are a few different ideas about what exactly an entrepreneur is, but the general consensus is it refers to an individual who creates a business with the goal of turning a profit. Entrepreneurs come up with an idea for a good or service and package it to sell to consumers. Entrepreneurs can also improve upon an existing good or service and sell it as a better alternative to consumers in the market.

Some entrepreneurs end up falling into entrepreneurship by accident, where their side hustle becomes their full-time gig, such as a ph