The word Entrepreneur is derived from the French word entreprendre which means "To grab" or "To take control".An entrepreneur is known as an individual who accomplishes new business, bearing most of the risks and enjoying most of the rewards. The process of setting up a business is known as entrepreneurship. The entrepreneur is usually seen as a pioneer, a source of new ideas, goods, services, and business/or procedures. An entrepreneur combines labor, resources, and capital to manufacture goods or provide services. They typically create a business plan, hire labor, acquire resources and financing, and provide leadership and management for the business. Entrepreneur boost the economic system they add national-level income, they help ventures to bring wealth, they come up with the new business idea. Entrepreneur provides goods, services and creates opportunities that benefit every individual. Entrepreneurs also help drive change with innovation, where new and improved products enable new markets to be developed. Some of the most developed nations such as the United States are world leaders due to their forward-thinking innovation, research, and entrepreneurial individuals. New and latest goods, services, opportunities, and technology from entrepreneur helps the market to grow and develop and provide wealth to the people. Further increased employment and higher earnings contribute to better national income in the form of higher tax revenue and higher government spending. This revenue can be used by the government to invest in other struggling sectors and human capital. According to a research, entrepreneurship has a positive correlation with per capita GDP growth in wealthy countries, its relationship with growth in poor countries are negative. ant. Many countries leaders and scholars have proposed that entrepreneurship can be a panacea for empowerment, job creation, economic transformation, and poverty reduction particularly in 3rd world countries or developing countries. Governments need to support entrepreneurship and innovation as a way of removing people from poverty because innovative entrepreneurship act about changes in the structure of the economy, technological upgrading in production, and moving higher value performing global value chains.
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