Entrepreneurship & SME Management

History of Entrepreneurship
The term entrepreneurship can be traced back to as early as the
Middle Ages,when the entrepreneur was simply someone who carried out
tasks, such as buildings andconstruction projects by applying all the resources at
his disposal. However, it was during the16
th
century when business was used as a common term, and the entrepreneur
came intofocus as a person who is responsible for undertaking a business venture.
In the 18
th
century,early economists, for instance one known as Richard Cantillon, added that
an entrepreneurbears risk as part of his work definition