Entrepreneurship is the creativity of individuals to dream up and create new products that people knew they wanted or needed. It is an essential part of capitalism.  It is this ability that leads to the creating of a profitable new business venture. Someone skilled in entrepreneurship is called an entrepreneur. Innovation is also a big part of entrepreneurship. In a highly competitive world innovative ideas are what will separate the entrepreneurs from the rest. As innovation is key to create an outstanding product, strong brand and to build a customer network.