Entrepreneurship is a term that generally carries a cachet. Recently there has been an inflation in the use of the term entrepreneur that such modern folk heroes can be found in any walk of life. How can countries balance the support to individual entrepreneurs all the way back to the Patent system and the ideas they produce, to create a sustainable societal legacy, rather than a winner-takes-all society? Where there is a will there is an entrepreneurial way.

All hail the entrepreneur as the conquering hero with talent of Olympian heights who is going to turn around national, international and the world economy. Why is the entrepreneurial panacea important to business and politicians? What are the qualities of these celebrated and sometimes celebrities of the business world that capture the public and political imagination? What makes an entrepreneur different? Finally, are there any opportunities as well as any health warnings that should be attached to this fashionable field?

Entrepreneurship is a term that generally carries a cachet. Recently there has been such an inflation in the use of the term entrepreneur that such modern folk heroes can be found in any walk of life. Let us get back to the basics: entrepreneurship is at the center of the type of high and stable economic growth that creates prosperity. Today, as an example, America gets more than half its economic growth from information and biotechnology industries that barely existed a decade ago—such is the power of innovation. There is hardly a government across the globe that does not try to activate or harness entrepreneurial potential as a source of new growth and the core focus of economic policies. In the UK, Prime Minister Cameron said: “If Britain is to compete on a global stage, we must do all we can to support budding entrepreneurs and build a nation where everyone aspires to great things.” A nationwide campaign conveys the message that there is a ‘business in everyone’ and aims to inspire potential entrepreneurs to start their own businesses and to encourage existing small businesses to grow.

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