Entrepreneurship Development is defined as a process of enhancing the skillset and knowledge of entrepreneurs regarding the development, management and organization of a business venture while keeping in mind the risks associated with it. Entrepreneurship is important, as it has the ability to improve standards of living and create wealth, not only for the entrepreneurs but also for related businesses. It is useful to break the entrepreneurial process into five phases: idea generation, opportunity evaluation, planning, company formation/launch and growth. Entrepreneurs also help drive change with innovation, where new and improved products enable new markets to be developed. Entrepreneurship development is a strategic process which incorporates various tools that concentrate on skill development of the individual in an array of ways.The main purpose is to help aspiring entrepreneurs furnish their talents and learn the intricacies of operating a business.

Saket Kumar

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