Impact of Socio-Economic Factor on Entrepreneurship and its Historicity

Entrepreneurial activity is a vital source of innovation, employment and economic growth. This paper is dedicated to examining the social and economic factors involved in entrepreneurial activity. Such studies of individual entrepreneurial behaviour generally refer to the individual pursuit of new economic endeavours, ranging self-employment to the creation of substantial organisations. ERD heralds development of improved technologies based on locally available natural resources and improvement of past harvesting techniques for commercial requirement.