Entrepreneurship is the act of being an entrepreneur, or "an owner or manager of a business enterprise who makes money through risk and initiative.".Early 19th century French economist J.B. Say provided a broad definition of entrepreneurship, saying that it "shifts economic resources out of an area of lower and into an area of higher productivity and greater yield." Entrepreneurs create something new, something different; they change or transmute values. Regardless of the firm size, big or small, they can partake in entrepreneurship opportunities.
The opportunity to be an entrepreneur arises with the fulfillment of four criteria. First, there must exist opportunities or situations in which people believe that they can use new means—ends frameworks to recombine resources to generate profit. Second, entrepreneurship requires differences between people. Specifically, the preferential access to or ability to recognize information about opportunities. Third, risk bearing is a necessary part of the entrepreneurial process. Fourth, the entrepreneurial process requires the organization of people and resources.