Entrepreneurship development is the process of improving the skills and knowledge of entrepreneurs through various training and classroom programs. The whole point of entrepreneurship development is to increase the number of entrepreneurs.
ED is an educational process and efforts in HRD. Learning is a continuous process and ED is part of it. Human being is considered as a physical resources and therefore its development is necessary. Human being can be developed through HRD techniques, but it requires an environment that facilitates entrepreneurs to learn and discharge their functions effectively and efficiently.
ED has now a days become extremely important in achieving the goals of alround development in the country. Joseph E. Stepanek identifies intelligence, motivation, knowledge and opportunity as the prerequisites for entrepreneurial development.
ED is an organised and systematic development. It is a tool of industrialization and a solution to unemployment problem for any country.
The objective of entrepreneurial development is to motivate a person for entrepreneurial career and to make him capable of perceiving and exploiting successfully opportunities for business enterprises. One trained entrepreneur can guide others on how to start their own business and approach various institutions for help, assistance and counselling related to business functions. Trained entrepreneurs become catalysts of developing industry and economic growth and progress.