Entrepreneurship is vital for economic growth and employment in all societies of the developing countries. In developing country like India, where successful small businesses are the primary engines of job creation and poverty reduction, Entrepreneurship plays an important role. Entrepreneurship has great importance in various economic systems and it prevails in all economic systems in one form or the other. ENTREPRENEURSHIP is the key word to Innovation, Creativity and Motivation. An entrepreneur is a rare person who can visualize and materialize water in the dessert. This paper provides an overview of entrepreneurship development, entrepreneurial qualities, opportunities and challenges faced by an entrepreneur.