Entrepreneur is a person who performs and evaluates a new situation in his environment and directs the making of such adjustments in the economic system as he deems necessary. An entrepreneur performs one or more of the functions like perceives, explores, obtains, arranges, provides, promises and supplies as per know how. In actual practice the term entrepreneur is attributed to all small industrialists, small businessmen and traders. All people who are gainfully engaged in work of manufacturing distribution or service and other sectors are called entrepreneurs.