BACKGROUND OF THE STUDY
Entrepreneurship has to do with the conceptual approach of doing new things within a new philosophy of value, of purpose, of utility and of quality and use, which satisfies needs. It is the practice of starting new organizations, particularly new businesses generally in response to identified opportunities. It also involves the recognition of opportunities (needs, wants, problems and challenges) and the use of resources to implement innovative ideas.
Entrepreneurship is often a difficult undertaking as a vast majority of new businesses fail. Entrepreneurship ranges in scale from solo projects (involving the entrepreneur only part time) to major undertakings creating many job opportunities. Entrepreneurial activities are substantially different depending on the type of organization that is being started. Furthermore entrepreneurship is about taking Risk - Risks which could be measured statistically, that which is ambiguous and true uncertainty i.e impossible to estimate or predict statistically. The act of entrepreneurship is often associated with true uncertainty, particularly when it involves bringing something really novel to the world whose market never exists. Thus, lots of benefits can be derived from entrepreneurial activities which includeself employment, employment for others, development of more land, incomegeneration and increased economic growth, healthy competition, availability of more goods and services, development of new markets, promotion of the use of modern technology, reduction of informal economy, development of entrepreneurial qualities and attitudes among potential entrepreneurs.