Before knowing the importance of entrepreneurship, we need to understand the meaning of entrepreneurship first. Entrepreneurship is the act of creating a business or businesses while building and scaling it to generate a profit. It's about building a life on your own terms. No bosses. No restricting schedules. And no one is holding you back.

Entrepreneurship is an act of being an entrepreneur, or the owner or manager of a business enterprise who, by risk and initiative, attempts to make profits. The entrepreneur is commonly seen as an innovator-a designer of new ideas and business processes. Management skills and strong team building abilities are often perceived as essential leadership attributes for successful entrepreneurs.

An entrepreneur is someone who starts a side hustle that can eventually create a full-time, sustainable business with employees. Same with the freelancer. If your entrepreneurial mindset is focused on creating a profitable business, you fit the entrepreneur definition.

There are various opportunities that an entrepreneur faces. The exploitation of entrepreneurial opportunities may include:

1. Developing a business plan
2. Hiring the human resources
3. Acquiring financial and material resources
4. Providing leadership
5. Being responsible for both the venture's success or failure
6. Risk aversion

In recent times, entrepreneurship is much more important for a better career and a better world. Entrepreneurs see possibilities and solutions where the average person only sees annoyances and problems. Some of the major importances are:

1. Entrepreneurs Create New Businesses: Path-breaking offerings by entrepreneurs, in the form of new goods and services, result in new employment, which can produce a cascading effect or virtuous circle in the economy. The stimulation of related businesses or sectors that support the new venture add to further economic development.
2. Entrepreneurs Add to National Income: Entrepreneurial ventures literally generate new wealth. Existing businesses may remain confined to the scope of existing markets and may hit the glass ceiling in terms of income. New and improved offerings, products or technologies from entrepreneurs enable new markets to be developed and new wealth created.
3. Community Development: Entrepreneurs regularly nurture ventures by other like-minded individuals. They also invest in community projects and provide financial support to local charities. This enables further development beyond their own ventures.
4. Entrepreneurs Create Social Change: Through offering unique goods and services, entrepreneurs break away from tradition and reduce dependence on obsolete systems and technologies. This can result in an improved quality of life, improved morale, and greater economic freedom.
5. Improve standard of living: The standard of living refers to a certain level of wealth, various types of goods and services, materials, comforts and all the necessities available to a definite portion of people.
6. Create new job opportunities: Business enterprises are one of the biggest sources of jobs in a nation. When it comes to building or expanding a business, they need people to conduct their operations. In this way the sectors of jobs for different designations increases.

In this competitive world, finding a job after graduation is too tough. But entrepreneurship helps us to create our own findings without any restricting schedules. It brings innovation and improvement in standard living. Creating new job opportunities is a very warming issue now. It gives us a complete new way of thinking and development. Entrepreneurship helps to create a better world and obviously a better career. So in my opinion, the practice of entrepreneurship should increase.