Entrepreneurship means self employment, which comes with the ability to set your own schedule and work where you want. If your innovation idea is related to your passions or hobbies, entrepreneurship enables you to make a career.

1. Entrepreneurship is the creation or extraction of economic value. With this
definition, entrepreneurship is viewed as change, generally entailing risk
beyond what is normally encountered in starting a business

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3. important for social development and national growth. There are some important
points which are as follows:
1. Lifeline of the nation:
Industrializations helps to measure the growth and development of any country. In
other words, we can say that every nation must try to establish more and more
enterprises for development. U.S., U.K. are the developed countries only because of
well-established enterprises.
2. Employment opportunities:
Industrializations not only facilitates self-employment but also provides
employment opportunities to society.
3. Benefits to society:
entrepreneurs try to adopt new methods of production to produce better quality
products at low cost for the people and raise the standard of living by setting up
industries in backward areas.
4. Growth of the economy:
Entrepreneurs use new technology for the production of goods and services which
results in the development of society and the economy.

4.  In the first step entrepreneurs assess themselves by their strengths and weaknesses.
 Then they identify the problem, need, and wants so that they can get an opportunity to overcome
the problem
 In this step, the entrepreneurs are trying to develop new ideas through discussion, creativity to
solve the problem and meet the basic needs of the customers.
 4. Under this step, entrepreneurs make plans, research, and strategies for the business.
 5. In this step, entrepreneurs raise capital and try to attract venture capitalists by using the
business plan and then start up the business.
 6. Entrepreneurs try to expand the business, develop more customers, and also make changes
according to the environment.
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5.  Human activities:
 Activities that are performed by humans beings are called human activities. The activities which are
directly generating money are called economic activities and other side those activities which are
related to personal satisfaction are called non-economic activities.
 Types of human activities:
 human activities are mainly classified into two categories :
 Economic activities
 Non-economic activities
 Economic activities:
 Occupations, jobs, or activities which are performed by the people with the purpose of obtaining
profit are called economic activities. The purpose of these activities is to create wealth or assets for
the business. Production and distribution are important elements of economic activities.
 Types of economic activities:
 These are broadly classified into three categories:
 Business
 Profession
 Employment
 Business:
 It is an activity that deals with the buying and selling of goods and services for mutual gain. It is an
integral part of economic activities which are directly concerned with money.
 For example, shopkeepers/retailers purchase grocery items from wholesalers and sell them to
customers.
 Profession:
 Profession means all those activities which require special knowledge and skills. People who are
connected with these activities are called professionals.

6. Employment:
It means when an individual works regularly for another person and earn money in return. These individuals are called
employees. A person who employs these people is called the employer.
For example, working in colleges, banks, companies, showrooms, as a clerk, peon, sales executive.
Non-economic activities:
Activities that are related to the psychological satisfaction of the people are known as non-economic activities. The
result of these activities is not to create wealth but it gives mental satisfaction. Such kind of activities provides happiness
and peace to the people.
For example 1)paying charity, social service(providing food to below poverty line people.
2)providing shelter to homeless people), any work related to the safety of the environment.
Non-economic activities also include family-oriented activities(helping family members in their work).

7. Commerce and its classification:
It refers to all those activities which are directly or indirectly helping in the distribution of goods and services to
the consumers. Commerce is the activity of buying and selling goods on a large scale rather than production.
We can classify commerce into two categories:
Trade
Aids to trade
1. Trade:
It is an integral part of commerce. It includes buying and selling goods and services. Trade generates a link
between the manufacturer and the consumer. Trade can be further categorized into two parts:
1) Internal Trade:
It refers to buying and selling of goods and services within the geographical boundaries of the country with
home currency. It is also called Home Trade. The internal trade further divided into two types:
a) Wholesale Trade: under this trade wholesalers buy products from the manufacturers in large quantities and
sell to the retailers. In the wholesale trade, a large amount of capital is required to run the operations.
b) Retail trade: under this type of business retailers purchase small quantities of goods from the wholesaler and
then sell to their ultimate consumers. Retailers maintain a variety of goods.

8. In this article, we explain, Key Habit For Success In
Entrepreneurship explore its process, list the activities and tips to
successfully craft one and provide some examples of effective and
professional.