What is entrepreneurship? Since the turn of the century, there has beenincreased global interest in entrepreneurship both by individual theorists andby institutions. This is significant because over the last quarter of a centurythere has been a remarkable renaissance in terms of the recognition of smallfirms’ “centrality as a necessary competitive instrument in the developmentof a modern, vibrant and progressive economy” (Beaver and Prince, 2004, p.34). The economics literature acknowledges the central role of entrepreneursin economic development, the creation of wealth and evolutionary change.In the United Kingdom alone, over 5.2 million businesses are operating as of2015; of those, 99% are SMEs, accounting for 14.5 million people in employedpositions (Federation of Small Business, 2015). The literature suggests that itis entrepreneurs who are the driving force of such a revolution, in the form ofan economic trend that is transforming and in some cases renewing economiesworldwide, contributing not only to employment but also to economic, socialand political stability. Therefore, it is vital to develop an understanding of thecomplex field of entrepreneurship by drawing on the early entrepreneurshipliterature, and by evaluating and understanding the wider contributions to thenow-established distinctive economic theories of the entrepreneur.
|Title of host publication||Enterprise|
|Subtitle of host publication||Concepts and Issues|
|Editors||Norin Arshed, Mike Danson|
|Number of pages||20|
|Publication status||Published - Jan 2016|
|Name||Global Management Series|