Entrepreneurship and social entrepreneurship

Self-employment and entrepreneurship can be challenging, but highly rewarding, career paths.

Entrepreneurship means creating a new, innovative enterprise, product or service, or producing an old one in a new way. The entrepreneur takes risks to turn an idea into reality. Indian examples: Narayana Murthy (Infosys), J. R. D. Tata, Dhirubhai Ambani.

Enterprises range from small, part-time micro units to large firms. Government agencies, institutes, banks and voluntary organisations support new entrepreneurs.

Qualities of an entrepreneur: hard work; planning; managing money, materials, people and time; calculated risk-taking; multitasking; willingness to learn; realism; the ability to cope with failure; networking, negotiation, flexibility and communication.

Social entrepreneurs are 'social catalysts': they use enterprise for social good, for underserved groups. Their success is measured by social impact more than by profit. Turn an idea into an enterprise, for profit or for good.