The present study was conducted during 2005 to 2010 at Hemwati Nandan Bahuguna University (A Central University) Uttarakhand to study the Entrepreneurship and Small and Medium Scale Enterprises in Uttarakhand with the objectives of to study the role, development status, financial status, growth and performance of small and medium scale industries in Utatrakhand. Micro small and medium enterprises are globally known as engine of economic growth and promoting equitable development. Its potential for generating employment and capability to start enterprise at a lesser cost has given it a primary importance in developed, developing and under developed economies. They plays an important role for a nation and regions to thrive by time. The individual’s mind needs to identify the entrepreneurial opportunity and convert them into possibility. They today face many challenges like access to affordable and adequate finance, non-availability of skill labour, lack of access to technology, inadequate marketing support and many more. The major problems considered by the research are the changing global environment, in updating their technical knowledge in this fast changing technical era, diminutive role of women entrepreneurs in managing the units, financial assistance and international support system.