Women Entrepreneurship in Nepal

Abstract

Entrepreneurship refers to the act of setting up a new business or reviving an existing business so as to take advantage from new opportunity (Bhardwaj et.al, 2011). The Webster Dictionary defines an entrepreneur as a person who organizes and manages his enterprise and assumes the risk in a business. Cantillon (Henry Higgs, ed. and trans. 1959) describes an entrepreneur as a person who pays a certain price for a product to resell it at an uncertain price, thereby making decision about obtaining and using resources while consequently assuming the risks of enterprise. According to Cantillon (Henry Higgs, ed. and trans. 1959) anyone who bought and sold at uncertain prices was an entrepreneur. He illustrated his concept of entrepreneur by taking the case of a farmer. A farmer pays out contractual incomes, which are 'certain' to the landlords and labourers; and sells at prices that are 'uncertain'. In the same way Oxford English Dictionary defines entrepreneur as "one who undertakes an enterprise, especially a contractor- acting as intermediary between capital and labour" undertaking of an enterprise that involves combining capital and labour for the purpose of production. Anyone who undertakes this task is an entrepreneur. Entrepreneurship is given the significant importance due to its visible impact in wealth creation and employment generation. It has assumed super importance for accelerating economic growth both in developed and developing countries. It promotes capital formation and creates wealth in the country. It reduces unemployment, poverty and is a pathway to a prosperous life (Bhardwaj et.al, 2011). Entrepreneurship is the process of exploring the opportunities in the market place and arranging resources required to exploit these opportunities for long term gain (Deshpande & Sethi, 2009). Entrepreneurship is a creative and innovative skill. It requires planning and organizing opportunities, assuming risk and adapting to an ever changing political, social and economic environment (Deshpande & Sethi, 2009).