What is entrepreneurship:
At least 92% of 100 adult knows the word "entrepreneur" and each and everyone one of them may look at it from a different angle else a different definition. Entrepreneurship is define differently by different scholars
Let's take a look at a few:
Entrepreneurship is the willingness to take risks and develop, organize and manage a business venture in a competitive global marketplace that is constantly evolving. Pinchot university (2015)
Entrepreneurship is the development of a business from the ground up — coming up with an idea and turning it into a profitable business. Businessnewsdaily.com (2014)
Entrepreneurship is the process of designing a new business, i.e. a startup companyoffering a product, process or service.The entrepreneur perceives a new business opportunity and often exhibits biases in their perception and subsequent decision to exploit the opportunity. The online wikipedia
To me I will say that entrepreneurship is living your today as most people won't so you can live the rest as most people can't.
Then with that we can move on to know who is an entrepreneur
Entrepreneurs are pioneers, innovators, leaders and inventors. They are at the forefront of technological and social movements – in their fields, in their forward thinking, in their desire to push the envelope. They are dreamers and most importantly –doers.
How did entrepreneurship originate?
A case study of the history of entrepreneurship first appeared in
http://startupguide.com/world/the-history-of-entrepreneurship/
And it's goes as follows
The Beginnings of Trade
The original entrepreneurs were, of course, traders and merchants. The first known instance of humans trading comes from New Guinea around 17,000 BCE, where locals exchanged obsidian, a black volcanic glass used to make hunting arrowheads for other needed goods. These early entrepreneurs exchanged one set of goods for another.

The first known instance of humans trading comes from New Guinea around 17,000 BCE when locals exchanged obsidian, a black volcanic glass used to make hunting arrowheads for other needed goods.
Around 15,000 BCE, the first animal domestication began taking place, and around 10,000 BCE, the first domestication of plants. This step toward agriculture was critical for the advancement of the human species. Now, instead of having to continually move around as nomadic tribes, seeking new places to hunt and to gather, we could stay in one place. Agriculture allowed us to start to form larger stationary communities and cities (the basis for civilizations), which set the stage for the development and spread of human knowledge. Agriculture changed everything for humans, enabling the formation of stable rather than migratory populations and laying the foundation for human populations to grow from 15 million to over 7 billion in the millennia ahead. 1
As more people moved into these stable communities, one of the most important advances took place with the advent of specialization. Instead of each tribe hunting and gathering their food, different individuals within each tribe would become experts at certain tasks, such as farming, hunting, gathering, fishing, cooking, tool-making, shelter-building, or clothes-making. The importance of specialization in various tasks (versus self-sufficiency in all) cannot be overstated. As some individuals in a community focused on one activity or another, they got much better at it, speeding up the pace of innovation. As different people got better at different tasks through specialization, they were then able to exchange with one another for the various goods and services needed, increasing the benefits for all.
As methods of agriculture improved, the first towns and cities were seen. Dependable food supplies allowed people to build permanent houses and settle in one area. As settlements increased in size, new social institutions such as religious centers, courts, and marketplaces developed. The advent of towns produced further specialization, creating jobs in tool-making, pottery, carpentry, wool-making, and masonry, among others. The specialist created items faster and of a better quality than each family making its own, increasing standards of living.
When the last Ice Age ended around the year 8,000 BCE, the poles melted, raising sea levels and creating a divide between Siberia and North America. This divide created two separate human civilizations for nearly 10,000 years, until European explorers reached the Americas again in the 15th century.
The First Cities
The Middle East’s fertile crescent between the Tigris and the Euphrates had the right mix of plants and animals to sustain the foundations of civilization. Around 4,000 BCE, people in central Asia tamed horses, giving them a major advantage in both agricultural work and warfare. By 3,000 BCE, the first settlements and cities formed in Sumeria (modern day Iraq). During this timeframe, the city of Uruk along the banks of the Euphrates River was home to 50,000 people in an amount of space that would have previously supported just one hunter-gatherer.2. Humans had become much more efficient at generating the food and energy necessary to support their communities.
Human civilizations began to spring up near rivers like the Nile, the Tigris and Euphrates, the Indus, and the Yellow and Yangtze. In the first cities, writing was developed to keep track of crops. In this period, the first armies developed and the first city governments were formed. Agricultural settlements had put humanity on a rapidly developing path toward intellectual and scientific advancement.
Trade Routes Allow Ideas and Memes to Spread
Trade routes between the new cities soon sprang up. Donkeys, horses, and camels enabled trade caravans between civilizations, moving both goods and ideas. Ships were built to carry trade over the seas. Networks and hubs soon formed and more complex structures emerged. Great Pyramids were built in Cairo. Temples were built in Sumeria.
Around 2000 BCE, iron was discovered, leading to advances in warfare and a very tumultuous few centuries. Around 600 BCE, human warriors with iron weaponry on horseback led to the creation of empires. Between 500 BCE and 117 CE, small cities turned into the Persian Empire, Alexander’s Empire, Han Chinese Empire, and Roman Empire with complex political systems and philosophies and beliefs. Judaism, Christianity, Hinduism, Buddhism, and Islam formed and became the world’s five major religions between 1300 BCE and 600 CE.
Trade routes expanded. Salt from Africa reached Rome, rice traveled from China to Asia, and the secrets of making paper were transferred from China to Europe. Arab traders brought coffee, lemons, and oranges into Europe for the first time. Around 800, gunpowder was discovered in China when carbon and sulphur were combined with potassium nitrate. Around the year 1200, an Italian trader named Leonardo Fibonacci brought the standard system of numbers that we still use today from Arabia to Europe.
Separated from the rest of the world, the Aztecs, Mayans, and Incan empires had formed in the Americas. Starting in 1492, Columbus’ voyages connected Europe and the Americas, bringing guns, horses, and disease. With the importance of Atlantic trade, power would shift toward the West in the coming centuries as Europeans colonized and laid the foundations for a globalized world. The reconnection of the hemispheres marked a major turning point for our species.
The Invention of Money
Early trade consisted of barter (one good for another). If Tom had twenty cows and Igor had eighty hens, and Tom and Igor agreed that one cow was worth four hens, then the trade could take place. The problem with the barter system, however, was that in order for a trade to take place, both parties had to want what the other party had. This “co-incidence of wants” often did not happen. Thus, the demands of growing business and trade gave rise to a money system. Silver rings or bars are thought to have been used as money in Ancient Iraq before 2000 B.C. Early forms of money (called specie) would be often be commodities like seashells, tobacco leaves, large round rocks, or beads.3
While the money system still had much development to go through (credit and paper money did not yet exist), its invention over four thousand years ago was of crucial importance to the world we live in today. The use of money, an accepted medium to store value and enable exchange, has greatly enhanced our world, our lives, our potential, and our future.
By the year 1100, the prevailing cultural system in the Western World was feudalism. It was a world of kings and lords, vassals and serfs, kingdoms and manors. Long-distance trade was expanding and new worlds of foreign spices, oriental treasures, and luxurious silks were discovered. Three hundred and fifty years later, after weathering a Black Death and the Hundred Years War, Europe emerged by expanding trade to new levels and building the foundation for the start of the competitive market economy we know today.
The Creation of Markets
With a population spurt starting around 1470, cities, markets, and the volume of trade grew. Banking, initially started by Ancient Mesopotamians, grew to new heights and complexities; the guild system expanded; and the idea that a business was an impersonal entity, with a separate identity from its owner, started to take hold.4 Silver imports from the new world drove expanded trade and bookkeepers created standardized principles for keeping track of a firm’s accounts based on Luca Pacioli’s accounting advances. Early entrepreneurs, called merchants and explorers, began to raise capital, take risks, and stimulate economic growth. Capitalism had begun.
Early on in the history of capitalism, the idea of monetary gain was shunned and shamed by many. The practice of usury, charging interest on loans, was banned by the Christian Church. Jobs were assigned by tradition and caste. Innovation was stifled and efficiency was forcefully put down, sometimes punishable by death. In sixteenth-century England, when mass production in the weaving industry first came about, the guildsmen protested. An efficient workshop containing two hundred looms and butchers and bakers for the workers was outlawed by the King under the pretense that such efficiency reduced the number of available jobs. Makers of innovative shirt buttons in France in the late 1600s were fined and searched and the importation of printed calico textiles cost the lives of 16,000 people.5
The world would soon see, however, that innovation was generally a good thing, making lives better, and that efficiency was a path toward a higher standard of a living. As Robert L. Heilbroner says in The Worldly Philosophers,
“The precapitalist era saw the birth of the printing press, the paper mill, the windmill, the mechanical clock, the map, and a host of other inventions. The idea of invention itself took hold; experimentation and innovation were looked upon for the first time with a friendly eye.”

The Hochelaga Cotton Factory in 1860, near Montreal, Quebec on the banks of the Ottawa River
Markets & Machines
Just when it seemed we had reached our human limits we found the energy and technology to carry us into the future. On Earth, the seeds of the past have bloomed into a present filled with energy creativity. The stories of billions of lives have played out against a backdrop of a universe almost too vast to comprehend. In everything that we do, in all that we are, we remain living monuments to the past, as we continue to make history every day.” – The History Channel6“
The story of the last 200 years is truly one of machines and markets.
With the advent of a complex marketplace and a system of capitalism, a battle of ideas raged to explain the sources of wealth and to explain the workings of the market. Between approximately 1550 and 1800, a philosophy called mercantilism was at the forefront. The mercantilists had the misguided notions that a country’s wealth was solely based on how much treasure and gold it could obtain and how much more it exported than imported. Monopolies and tariffs were promoted and competition and trade were discouraged. But they had gotten it all wrong.
“It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their self-interest.” – Adam Smith, The Wealth of Nations
Fortunately, new schools of thought sprung up in the 18th century that promoted commerce as the source of wealth, rather than the mercantilist notion of the hoarding of gold. Adam Smith further backed this idea and was the first to capture and explain the essence of the marketplace. He did so in his seminal 1776 work An Inquiry into the Nature and Causes of the Wealth of Nations, slaying the mercantilist dragon in the process. Smith explained that self-interest acts as a guiding force toward the work society desires.
While one would naturally assume that everyone simply following his or her self-interest would not create a very positive society, there is another force that prevents selfish individuals from exploiting the marketplace in a healthy economy. That regulator is competition.
This principle can be explained best with the following excerpt from Robert L. Heilbroner’s book The Worldly Philosophers:
“A man who permits his self-interest to run away with him will find that competitors have slipped in to take his trade away; if he charges too much for his wares or if he refuses to pay as much as everybody else for his workers, he will find himself without buyers in the one case and without employees in the other.”
Those customers will go to the competitor who charges less and those workers will go to the competitor who is willing to pay more. The wonderful paradox of the market, through the interaction of supply and demand and competition, creates a price that properly allocates industry so as to produce the proper quantities of goods and services. No intervention, planning, or forethought is needed to create exactly what society desires, in the exact amount it desires. What a wonderful contraption the market is. As long as society can promote competition and innovation, standards of living will continue to grow and wealth will increase.
The Start of the Industrial Age
The Industrial Age truly began in 1712 with the invention of Thomas Newcomen’s steam engine in Devon, Britain. But it wasn’t until James Watt’s steam engine in 1763 that things really got moving, enabling work to be done through the movement of pistons rather than the movement of muscle.
By the time of Adam Smith’s death in 1790, the nascent Industrial Revolution had already reared its head. The effects of the Renaissance, the humanist movement, and the Enlightenment’s focus on science and empiricism would translate into the launch of a movement that would impact the world as none before it had. It was this revolution—often dirty, harsh, and cruel—that prompted thoughts of communism and created robber barons and industrial titans. It was this same revolution, however, that led to the development of the innovations, technology, and standards of living we have today.
From the Industrial Revolution, the concept of mass production and economies of scale came about. Bigness, trusts, and vertical integration became the key to riches at that time. It was Andrew Carnegie and J. P. Morgan in steel, John D. Rockefeller and Frank Kenan in oil, and Henry Ford in automobiles. While some of these titans had questionable ethics, no one can deny that they were innovators. They forged alliances, developed new ways of doing business, and created efficiency across industries.
It was the combination of energy and engine that freed man from the constraints of muscle power, making the Atlantic world the greatest military power and laying the foundations for the locomotive, the internal combustion engine, the automobile, and the discovery of oil. The telegraph and telephone connected humanity around the world. With electricity, we lit up the night.
While critical governance institutions are required for the effective functioning of capitalism, the market system has been one of the most significant innovations in the history of humankind.
Now you can agree with me that the history of entrepreneurship date as far back as the 17th century.
The economy of Africa due to unemployment:
Have you ever sat dawn to consider the number of universities, polytechnic, college if education and other certificate awarding institution in your country?.
Have you ever sat dawn to consider the number of people that graduate a year and compare to the number of jobs created by your government?
If yes then you can see to yourself wht unemployment is high in your country.
How has employment affected the economy of Africa?
These and many more are what our policy maker, our governments and even the general public should.
“I do not believe we can repair the basic fabric of society until people who are willing to work have work. Work organizes life. It gives structure and discipline to life”. Bill Clinton
Unemployment is simply the state of not having a job. Unemployment or joblessness occurs when people are without work and are actively seeking for one. Africa is deeply affected with a high rate of unemployment especially among the youth.
Africa is now having the most youthful population in the world with the youth covering close to between 60% and 70% of the continents population. This menace poses great threats to the strength and growth of Africa. Though unemployment is seen manifested all over the world, the case of Africa is very dilapidating to say the least.
Unemployment in Africa is manifested in seasonal layoffs (e.g., in agricultural jobs), technological changes in industry (particularly by increased automation), racial discrimination, lack of adequate skills by the worker, or fluctuations in the economy
In a 2011 news story, Business Week reported, "More than 200 million people globally are out of work, a record high, as almost two-thirds of advanced economies and half of developing countries are experiencing a slowdown in employment growth". This is not very encouraging and therefore drastic measures must be instigated to curb this situation.
Unemployment is one of the most serious problems facing the African continent. In accordance with IMF/World Bank conditions, most of the African countries applying structural adjustment measures have retrenched large number of public-sector workers. In February 1995, for example, the Zimbabwean Cabinet ordered all government ministries to reduce their staff numbers by 40 per cent, which translated into the abolition of about 10,000 posts by the middle of the year. The bad situation in Africa has been exacerbated by demographic pressure, resulting in a high number of new entrants to the labour market annually. There has also been an increase in unemployment among university graduates in many African countries.
CAUSES
Unemployment in Africa is highly caused by the defective education system. The educational systems in Africa do not correspond directly to the economic realities prevailing outside the schools system. Instead of training professionals and people with skills, theory instead of practical is the order of the day. The education system in our countries has failed to respond to the existing inter-generation gap. It simply imparts general and literary education devoid of any practical content.
Africa’s educational policy merely produces individual whose services do not reflect the economic trends on the job market. The educational structure, especially the curriculum does not include industrial skills hence produces most graduates whose skills are not transferrable. The open door policy at the secondary and university level has increased manifold unemployment among the educated that are fit only for white collar jobs and not for self employment.
Unemployment in Africa among the youth is again caused due to the lack of vocational guidance and training facilities. As, already discussed, our education system is defective as it provides purely academic and bookish knowledge which is not job oriented. The need of the hour is that there must be sufficient number of technical training institutions and other job oriented courses at village level. Most of the students in rural areas remain ignorant of possible venues of employment and choice of occupation.
Africa is the only continent with most of its populace leaving in the rural and semi-urban areas yet there is less means for self-employment. This is a hurdle because it militates against the generation of more employment opportunities. There exists a high level of inappropriate means for self employment in rural and semi-urban areas across the continent of Africa. Unlike in the case of developed countries, most of the engineers, technocrats and other well qualified persons in Africa do not possess ample means for self employment. They therefore end up going about in search of paid jobs.
Africa is rich with abundant labour which is a tool needed to be expanded with intensive skills to meet the global labour market standards; yet Africa is rather placing more emphasis on capital intensive techniques instead of labour intensive. Labour is rather available in larger quantities in Africa. Therefore, under these circumstances, countries in Africa should adopt labour intensive techniques of production.
It is been observed that not in industrial sector that there is large application of capital intensive techniques, but also in agriculture sector; there is substantial increase of capital than labour. Even in the case of using the capital intensive technique, individuals are not trained adequately to take up the operation of various machineries in the industries. In the case of Western countries, where capital is in abundant supply, use of automatic machines and other sophisticated equipments are justified while on our continent abundant labour, results in large number of unemployment.
Another cause of unemployment in Africa can also be associated with the negligence of the leaders and their corrupt attitude, they imbibe the culture of power retention and money embezzlement, the funds needed for the development of a sector would be diverted for personal use, with this trend there is no way forward and we remain undeveloped.
EFFECTS
Unemployment poses various effects which impedes against the economic development in Africa. Unemployment leads to loss of human resources. People with adequate skills and competence are rather left unutilized due to the problem of unemployment. Individuals’ talents and skills are untapped and left unutilized. This indeed is a great loss to Africa as such skills could have been utilized to foster growth on the continent.
High rate of unemployment leads to increase in poverty. Unemployment deprives a man of all sources of income. As a result he grows poor. This is highly seen manifested across the continent. Most Africans due to poverty arising out of unemployment cannot satisfy the basic necessity of life. Most African’s leave in the streets across the capital cities because of their inability to afford a descent accommodation.
Unemployment again leads to the breeding of social problems. Unemployment breeds many social problems comprising of dishonesty, gambling, bribery, theft etc. Prolonged unemployment usually results in some form of social pathology, as reflected by an increased crime rate and violent agitators. It breeds discontent against the state, and any slight provocative issue or incident may trigger violent demonstrations and social unrest, which may result in loss of life and damage to property.
As a result of unemployment, social security is jeopardized. Most electoral violence staged on the continent are been instigated largely by the unemployed youths. So this suffices to say that unemployment is an automatic threat to social, economic and political security. People due to economic hardship arising out of unemployment indulge in any means possible in order to meet their basic human needs and most of these means are the very foundations to social disorder and economic instability.
Unemployment is without doubt a threat to political instability in Africa. Unemployment gives birth to political instability in a country. Unemployed persons can easily be enticed by antisocial elements. They lose all faith in democratic values and peaceful means. They consider that Government is worthless which fails to provide them work. Here in Africa where the dependence ratio on governments is very high, people tend to resort to any means to retaliate to get their issues addressed.
Exploitation of Labour becomes the order of the day when there is high rate of unemployment: In the state of unemployment, labourers are exploited to the maximum possible extent. Those labourers who get work have to work under adverse condition of low wages. Individuals are deeply subjected to harsh conditions of services because they are anxiously seeking for employment. Employers therefore take advantage of the situation to get the maximum from people yet subjecting them to harsh conditions. This is a threat to social and economic justice.
SOLUTIONS
Adequate and conscious efforts should be made to ensure improvements in the education and training provided to young people, with a greater focus on vocational skills and training. People should be trained in the schools to acquire transferable skills highly meeting the current economic trends. The schools curricula should be drafted around producing skilled individuals in the technical and vocational field. There should be the provision of more training and education to the unemployed. This could help improve computer skills and communication. These people will become more confident and employable.
Faster economic growth is viewed as a means of generating more jobs. Methods of accumulation and dissemination of information on available jobs and workers could be improved -Swedish model, in which job centers have a nationwide, integrated database of jobs, employers, and available employees. This type of database could reduce the time spent by an average worker on the unemployment roll and thus reduce the unemployment rate. This method would help to reduce the unemployment rate in Africa.
There must be conscious and adequate efforts by governments in Africa to support the struggling industries in order to try to save jobs. Proper supervision and adequate resources should be invested in the industries to support the employment base across the continent. There must be increased resource allocation out of national budgets for employment promotion activities. The Government needs to try to create demand in the economy. It could; give grants to businesses to produce goods, have projects such as road building, and cut interest rates to encourage spending.
Efforts must be intensified to increase productivity and income through the informal sector, and governments should increase their efforts to facilitate greater access of operators in the informal sector to the means of production such as land, capital and improved management technology and training in order to facilitate the marketing of their products.
A case study by
Paul Frimpong
University of Ghana
Associate chartered economic policy analyst ACCE-USA.
Has entrepreneurship added a positive value to African economy?
Introduction
As economies continue to integrate due to globalisation and formally closed economies like India and China march toward total liberalisation, entrepreneurship is on the increase. A close analysis of developed and industrialised economies indicates a common denominator that stands out amongst all of them. This is the most important role played by entrepreneurship and entrepreneurs in such economies. This phenomenon has proved to us that if an economy is to develop fully, entrepreneurship should be allowed to flourish. Therefore it is the objective of this paper to critically analyse the impact of entrepreneurs in any given economy. In this paper the writer will identify and discuss the many benefits afforded to an economy through entrepreneurs and entrepreneurship and the disadvantages of the same and draw conclusions on the overall impact of the entrepreneurs.
Innovation
Individuals often resort to entrepreneurship for one of the following reasons; they find a market niche and have the solution to profit from such niche; they have been unable to find suitable employment or a suitable means of income and therefore have resorted to using their creativity to generate an income for themselves; or they have the technological know-how and the financial resources (or able to source all of the above) necessary to generate income by satisfying a need in the marketplace. Irrespective of which of the above led an individual to become an entrepreneur it is clear that innovation and creativity is the driving factor and therefore, it can be stated that the biggest impact of entrepreneurs to an economy is the innovative contribution.
Job Creation
As stated in the previous section, one of the main reasons that individuals tend to become entrepreneurs is because they are unable to find suitable jobs. As a result, by being enterprising, creative and finding a market niche, not only are they able to generate an income for themselves but also to employ other individuals in their business operations. Therefore, one of the most positive impacts that entrepreneurs make on an economy is job creation and the reduction of unemployment levels. In developed countries we see that almost 40 – 50% of the workforce are employed in small and medium scale business enterprises that were started up by very enterprising individuals. Likewise in countries like India, we see that millions of women have been able to pull their families out of poverty through self-employment and entrepreneurship that has been made possible by different Non-Governmental Organisations and due to the availability of such resources through micro finance etc. Africa is another good example of small scale entrepreneurs helping to reduce poverty and helping many to avoid destitution. Therefore based on everything that has been stated above it is apparent that entrepreneurs can cause a great degree of impact on an economy through job creation and income generation.
Increased Competition
Another positive impact of entrepreneurship on an economy is the increasing level of competition as new entrepreneurs join the fray in existing domestic markets. While one may venture to say that this will only lead to market saturation, the upside of such a phenomenon is that it causes all the players in the market to re-evaluate their operational capabilities, increase value addition, lower costs and become more efficient. Thus it can be stated that competition reduces the likelihood of monopolies and oligopolies in the marketplace and is beneficial to the customer and the economy as a whole.
Increased Productivity
One of the advantages of increased competition in an economy is that individuals and firms continue to source methods that can better improve their operations, use resources more efficiently and most importantly reduce costs while adding value. All this often results in an increase in productivity in an economy and an increase in the gross domestic product (GDP), which is indeed a benefit for the economy. While opponents tend to state that when productivity increases the unemployment can often increase, thus reducing the positive impacts, it is the opinion of the writer that increased productivity leading to increased unemployment will then cause more individuals to be creative, find niche markets, become entrepreneurs and begin generating more employment opportunities, thus re-inventing the wheel and driving the economy forward.
New Markets
As stated in the previous section increased competition in the marketplace can cause saturation and as a result many entrepreneurs maybe driven to seek new markets for their products and services or adapt market penetration tactics. Either way such a phenomena of increased competition, which ultimately causes individuals to look for new markets, can be considered as a positive impact on the economy. Therefore, entrepreneurs can be considered to play a very important role in the economy. As integration of economies continues due to globalisation, entrepreneurs often tend to look for markets that are outside of their domestic sphere thus generating foreign revenue and increasing the prosperity of the economy as a whole. While this may be a very simplistic explanation of the impact that entrepreneurs make on an economy, it is also safe to say that the employment generation, increased competition, market expansion, market penetration and sourcing new markets all result in income generation that ultimately help an economy to become more prosperous, drawing millions out of poverty and generating funds for social welfare activities that ultimately uplift the living standards of citizens.
Generation of employment:
When any person start the business then it is very helpful to generate the employment opportunity for the employee. It is very helpful for the economic development of the country. It is very helpful to remove the poverty from the country.
Increase in per capita income:
when the business is increased day by day then income of the business is also increased. When income is increased then per capita income is also increased.
How per capita income is calculated:
Per capita income = Total income / population
Helpful in capital information:
Entrepreneur uses the money in a proper way. In other words, we can say that proper utilization of funds. When people invest in his company then it also gives proper returns.
Balance regional development:
Every entrepreneur start the business in a small scale. It is the main advantages of the entrepreneur balance regional development. When person the business in backward area or poor people area then backward area also developed. And maintain balanced growth, and employment.
Providing self-reliance/ self-sufficient:
In case of Entrepreneur, we will describe about the self-sufficient. He is not depending on the other person. He can't delegate all the power to the subordinate. He is always understandable. He is the power to take all the decision himself.
The negative effects effect entrepreneurship
The single largest negative impact of entrepreneurs on an economy is the plundering of resources, which can have a disastrous effect on the environment. While such negative impacts are mitigated to some extent in developed economies due to the enforcement of environmental protection standards and regulations, this is not the case in developing economies. Further entrepreneurship requires a certain degree of business knowledge and know how, without which entrepreneurial ventures can often fail, which can also cause many financial hardship that in extreme cases can even lead to catastrophe
Social Entrepreneurship
Today we see the realm of social entrepreneurship growing exponentially which is a very positive sign and has helped to draw millions out of poverty, decrease unemployment, decrease the number of people dependent on social welfare and all in all uplift the living standards and quality of life of millions. Further social entrepreneurship initiatives are also often seen as ‘green initiatives' that take into consideration the impact on the natural environment and therefore strives to keep this at a minimum. This increases awareness about such issues, avoids the plundering of natural resources and conserving the environment wherever possible. Therefore, it can be stated that the negative impacts of entrepreneurs on an economy can be mitigated to some extent through social entrepreneurship.
Lack of viable concept:
It means lack of proper concept. Sometime person start the business it can't run properly with the reason of lack of viable/proper concept. It can be suffered loss. So, this is the main disadvantages of the entrepreneur. When person start the business then always skilled labour in every entrepreneur.

Lack of marketing knowledge:
Marketing knowledge is very necessary for every entrepreneur. When person know about the marketing then it can be produced the goods acc. to the customer satisfaction. He can also know about the price. How to gain profit in the market.
Lack of business knowledge:
When person start the business then it is very necessary to knowledge about the business. When he is failure to convenience to the customer about the business then it is very difficult to maintain the business for a long time.
Social Stigma:
for every entrepreneur popularity is not necessary but quality of the product is also preferred in business. So, every businessman produced those which goods which are best in quality, quantity, rate, etc. that people can fulfill all the daily needs in a easiest way.
Monopoly and protection:
during the time of the liberalization, people are not free to innovate anything but now at that time of the items free/ provide monopoly. People can think about a new technology.
Conclusion
Are you studying science, theater act, business management, medicine, etc in college?
Having define entrepreneurship, the numerous advantages, have having shown you the effect of unemployment in our society due to inadequate jobs.
You can agree with me that is a nice idea to start your own business without waiting for the government to employ you, you can be a government and employ others.
References:
1..pinchot university press
An online journal 2015
2...Wikipedia
3...Businessnewsdaily.com
Nice one. You laid everything as bare as it should be.
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