TVETipedia Glossary

Entrepreneurship – often seen as characterised by innovation and risk-taking behaviour – may be defined as the capacity and willingness of individuals to develop, organise and manage a business venture, along with any of its risks, in order to make a profit. The European Commission wishes to encourage the growth of enterprises and foster entrepreneurship in order to stimulate economic growth and job creation and entrepreneurship thus features in the Europe 2020 strategy. This acknowledges that work needs to be done to improve access to the single market for small businesses and to develop and support entrepreneurship. The Commission’s Entrepreneurship 2020 Action Plan, adopted in January 2013, is the blueprint for action to unleash Europe’s entrepreneurial potential.