Entrepreneurship can be described as the process of designing, launching and running a new business, generally a small business. It is mainly the willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit. It also involves innovative activities, risk taking capacities, combination of resources, organization of people, talent and others to be successful. Now people have drifted their focus from jobs and settled career options towards a risk prone area of career option that is entrepreneurship. These days there has emerged forms of entrepreneurship such as one-person enterprises and self-employment, part-time entrepreneurs, parallel and serial entrepreneurs, and business transfer and successions. Entrepreneurship is fast emerging as transformational key drivers of economic growth. High youth unemployment rates in many countries, changing work and lifestyle preferences, zeal to establish one’s own enterprise, equal division of responsibilities between genders, changing role of women and society, dissatisfaction and exploitation in jobs have resulted in creating a new class of entrepreneurs. With the developing supportive environments such as access to funding, entrepreneurial culture, supportive regulatory and tax regimes, entrepreneurial mind-set and a coordinated approach has helped a lot in emerging entrepreneurship. Furthermore, the instrumental role entrepreneurs play in stimulating economic growth, policymakers are moving towards actively promoting entrepreneurship opportunities based on an integrated approach that brings together both government and industry entities. It is essential for the overall societal development and growth in national economy also.