Entrepreneurs are frequently thought of as national assets to be cultivated, motivated, and

remunerated to the greatest possible extent. Great entrepreneurs have the ability to change
the way we live and work. If successful, their innovations may improve standards of living,
and in addition to creating wealth with entrepreneurial ventures, they also create jobs and
contribute to a growing economy.
Entrepreneurship is thus important for a number of reasons, from promoting social change to
driving innovation
Entrepreneurs Spur Economic Growth
New products and services created by entrepreneurs can produce a cascading effect, where
it stimulates related businesses or sectors that need to support the new venture, furthering
economic development.
Entrepreneurs Add to National Income
Entrepreneurial ventures help generate new wealth. Existing businesses may remain
confined to existing markets and may hit the glass ceiling in terms of income. New and
improved products, services or technology from entrepreneurs enable new markets to be
developed and new wealth to be created.
Entrepreneurs Create Social Change
Through offering unique goods and services, entrepreneurs break away from tradition and
reduce dependence on obsolete systems and technologies. This results in an improved
quality of life, improved morale, and greater economic freedom.
• Entrepreneurship is important as it has the ability to improve standards of living and
create wealth, not only for the entrepreneurs, but also for related businesses.
• Entrepreneurs also help drive change with innovation, where new and improved
products enable new markets to be developed.
• Economy wise, higher earnings thanks to entrepreneurship can help boost national
income and tax revenue.
• Entrepreneurs contribute in other ways as well, such as investing in community
projects and supporting local charities.
• Too much entrepreneurship (i..e, high self-employment) can be detrimental to
economic development.

The entrepreneurial society refers to places where knowledge-based entrepreneurship has

emerged as a driving force for economic growth, employment creation and competitiveness
in global markets. As the initial capital-driven Solow model and the more recent knowledge-
driven Romer model have not delivered the expected levels of economic performance by
themselves, a mandate for entrepreneurship policy has emerged and begun to diffuse
throughout the entire globe. What is striking, however, is the emergence and diffusion of an
entirely new public policy approach to generate economic growth—the creation of the
entrepreneurial society.

ZENITH International Journal of Multidisciplinary Research ____________ISSN 2231-5780

ABSTRACT
Women entrepreneurial activity is a dynamic, social and economic phenomenon in
the worldwide. Entrepreneurial motivations are often defined as fitting into push or pull
categories. To date, research has focused on the factors motivating men and women
separately. Women would commonly engage in the topic of entrepreneurship less
frequently than men, nevertheless when women do so, they normally do it out of a
necessity rather than an opportunity. This study endeavored to identify the reasons
why the women entrepreneurs become motivated and are compelled to establish
business enterprises. It is essential to recognize the main incentives that encourage
women entrepreneurial decisions to startup a new business endeavor. Women frequently
are motivated to start a new business in order to be independent, to achieve job
satisfaction, to attain personal accomplishments and fulfillments, as well as to be creative
and financially self-sufficient.

1. Pull Factors: Pull factors attract women to the world of business. Pull factors imply the
factors, which encourage women to become entrepreneurs. They are the influences that
motivate women and make them want to compete. A woman’s desire gain recognition,
respect, importance, social status, and economic independence are some common pull
factors. With an attitude of, “What men can do, women can do better,” women are poised to
run the world. Armed with naturally better social skills and increasing opportunities for higher
levels of education, women don’t need to shy away from starting something of their own and
making it a success.
2. Push factors: Push factors are those, which debar women to become entrepreneurs. They
include financial difficulties. Responsibility in the family, unfortunate family circumstances
like death of the husband or father, divorce etc. However, the influence of this factor on
women in becoming entrepreneurs is low than the former factor. For some women, the
solution is to push past barriers and build their own firms.

 An entrepreneur is someone who locates the need of society and tries to meet the same,
with his/her innovative idea. On the other hand, ‘entrepreneurship’ which refers to the
process of establishing a business entity, intending to get profit, as a return in the future.

The difference between entrepreneur and entrepreneurship are discussed in the points
given below:

1. An entrepreneur is a person, or a team of individuals, having a vision, which not just

generates money, but can also ease the way in which things are done, by providing
such products and services that has value to the customer, while taking all the risks,
which comes in the way. Conversely, entrepreneurship is an art of turning an idea
into reality, which is not only about arranging the resources to give shape to the idea
but constantly making efforts in that direction, to earn profit in future and bearing all
the risks or rewards.
2. An entrepreneur is just a person having a unique and practical idea in his/her mind.
As against, entrepreneurship is the process of starting and running a business of
providing creative products and services.
3. An entrepreneur is an innovator, as he/she conceives an innovative idea, which is
not yet introduced by anyone else in the market. On the contrary, entrepreneurship
is the way through which one can make innovations.
4. An entrepreneur establishes the business venture, in order to convert the idea, into
a product or service, which can help many by easing the way work is performed
previously. In contrast, entrepreneurship is all about undertaking the business and
bearing all the risks that come in the way, to give a proper shape to the
entrepreneur’s vision.