Today, there are around 582 million entrepreneurs in the world. The opportunities are truly limitless when it comes to entrepreneurship in the 21st century. With this in mind, we’re going to take a closer look at what it actually means to be an entrepreneur and why it's an option for you. Read on to learn more.

What is entrepreneurship?

Entrepreneurship is the act of creating a business while building and scaling it to generate a good old profit. But as a basic entrepreneurship definition, that one is a bit limiting and not the full story. The more modern definition is also about transforming the world and solving big problems with your business. For example, creating an innovative product that challenges how we live our lives on a daily basis for the better.

What the definition for entrepreneurship doesn’t tell you is that entrepreneurs take their career into their hands and lead it in the direction they want. It’s all living life on your own terms. No-one to answer to and restricting schedules to stick to. Entrepreneurs take the necessary steps into making the world a better place – for themselves and everyone else.

Importance of entrepreneurship

Now you know the definition, here's an interesting question for you - why is entrepreneurship so important? Let’s take a look at just 4 reasons.

• Entrepreneurs create jobs: Without entrepreneurs, jobs simply wouldn’t exist. Entrepreneurs take on the risk to employ themselves and their ambition to grow their business leads to the creation of new jobs. Continued business growth = more jobs created. 
• Entrepreneurs create change: Some entrepreneurs ideas make worldwide change. This can be the creation of a new product that solves a burning problem or something that challenges us to explore something never explored before. Entrepreneurs make an impact like no other.
• Entrepreneurs innovate: Some of the greatest technologies we use today have come from businesses started by entrepreneurs. These kinds of technological advances come from a need to solve a problem and improve the world. A great example of entrepreneurs innovating and changing the technology we use today are Steve Jobs and Steve Wozniak, who co-founded Apple back in 1977. We continue to use the Apple products for every day life and buy the latest products as they are released.

Why should you become an entrepreneur?

Yes entrepreneurship is risky, but it’s also very rewarding. Becoming an entrepreneur means that you will constantly learn, grow and evolve, and at your own rate.

While not everyone has what it takes to build and grow a business, if you are self-motivated, creative and resourceful, then you’ve pretty much got what it takes to benefit the life of an entrepreneur. Here are a few reasons why people become entrepreneurs:

• To change the world: We've mentioned it before - some entrepreneurs strive to make the world better. They use their business as a way to raise capital quickly to solve, prove or fix noble causes around the world.
• They don’t want a boss: Entrepreneurs often struggle with having a boss/ someone to answer to. They might feel suffocated and held back. Ultimately, they become attracted to the life of an entrepreneur to succeed on their own terms.
• They don’t fit into the corporate environment: You can easily spot an entrepreneur in a corporate environment as they’re usually trying to gain more control in their role and have a better understanding of how everything fits together/works. You can spot them a mile away!
• They like to work flexible hours: Entrepreneurship is popular with those who want/need flexible hours. For example, people with disabilities choose entrepreneurship as it allows them to work when they can. Also parents choose to become an entrepreneur so they can raise their children at home and pick them up from school without having to book time or try and figure out how they can do it.
• They want to work from anywhere: Along with flexible working hours, entrepreneurship is popular among those who don’t want to work from one location. Entrepreneurs can work from literally anywhere and get the job done.

Business ideas for entrepreneurs

As an entrepreneur just starting out, there are so many businesses you can pursue depending on the skills you already have and what you’re willing to learn. Here are just a handful of business ideas to get you started in the life as an entrepreneur:

• eCommerce store owner
• Teaching
• Freelancer (accountant, blog writer, photographer etc)
• Translator
• App builder
• Service based business (cleaning, dog walking, child care etc)
• Influencer
• Author
• Stock broker
• Web designer/ builder
• Consultant based business (business coach, personal trainer, party planner etc)
• Affiliate marketing
• Vlogger