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What is entrepreneurship?

So what actually is an Entrepreneur? Well it’s about a mindset and a set of skills.

One way to explain this, is to describe what an entrepreneur does and how they behave:
“A person who sets up a business, taking on financial risks in the hope of profit.”

A more formal definition from Harvard Business School formulated by Professor Howard Stevenson says that “Entrepreneurship is the pursuit of opportunity beyond resources controlled” .

The essence of an entrepreneur is someone that “identifies a problem that needs to be solved, and takes the risk to make a business from the solution.”

You may prefer to check out some real life experiences on what it means to be an entrepreneur from FYA (Future of Young Australians).

There’s also ‘Social Entrepreneurship’, which is the use of start-up companies and other entrepreneurs to develop, fund and implement solutions to social, cultural, or environmental issues.

There’s more information to help you understand the definition of entrepreneurship, or better still, why not join the UOW Entrepreneur Club here?

Careers Central also runs events on Entrepreneurship including a Q&A Panel where you can hear from people in the entrepreneur space and ask them questions. Find out when the next one’s coming up and register to attend.

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