Entrepreneurship is viewed as the technique of creating or extracting value. According to this definition, entrepreneurship is defined as a process of change that usually entails more risk than is typically faced when establishing a company, and which may involve values other than just economic ones.
According to more specific definitions, entrepreneurship is defined as "the process of designing, launching, and operating a new business, which is often similar to a small business," along with any of its risks in order to make a profit." Entrepreneurs are in general individuals who start their own companies and are frequently referred to as company owners. In contrast to traditional definitions of entrepreneurship, which emphasise the launching and running of businesses, due to the high risks associated with launching a start-up, a significant proportion of start-up businesses must close due to "a lack of funding, poor business decisions, government policies, an economic crisis, a lack of market demand, or a combination of all of these."