Can entrepreneurship improve Africa's well-being?IntroductionAfrica is one of the poorest areas in the world. Data shows that in some countries poverty reaches incredible rates and people live on less than $1 a day (Ngwane 2003). In contrast, in some countries such as the United States bankers and CEOs earn up to $400 million per year in bonuses and salaries (Enron 2005). On the other hand, over the last century, entrepreneurship has significantly increased the well-being of developed countries. In this research paper I will look at the possible outcomes with the implications of entrepreneurship in the poorest areas of Africa and try to conclude whether it would be beneficial or not. Definition of Entrepreneurship Over the last century, entrepreneurship has proven to be one of the driving forces in the world economy and has improved many areas of business. As an example, Steve Jobs changed four industries (computers, music, phones and animated videos) using his entrepreneurial intuition and creativity. However, can entrepreneurship work in all geographies and in all social conditions? First I would try to define the word entrepreneurship, researching its roots and examining its definition. The term “entrepreneur” is a French word for risk taking. One of the first people to use that term was Richard Cantillon, who clearly made a distinction between capitalist and entrepreneur. Jean-Baptiste Say later developed the term “entrepreneur” to mark the transition from a low-productivity activity to a high-productivity activity (McDaniel 2002). Shortly thereafter, the British economist Adam Smith again spoke of the entrepreneur, but this time he combined his activities with those of the capitalist. McDaniel separates entrepreneur and capital... center of paper... challenge of job creation in South Africa." Journal of Developmental Entrepreneurship 17.04 (2012): 1250020. Print.McDaniel, Bruce A. Entrepreneurship and Innovation : A economic approach. Armonk, NY: M.E. Sharpe, 2002. Print. Munemo, Jonathan. “Entrepreneurship in Developing Countries: Is Africa Different?”. Journal of Developmental Entrepreneurship 17.01 (2012): 1250004. Print. Plaza, Sonia for Development in Africa. Washington, DC: World Bank, 2011. Print.Preisendörfer, Peter, Ansgar Bitz and Frans J. Bezuidenhout “In Search of Black Entrepreneurship: Why There Is a Lack of Entrepreneurial Activity Among the black population in the South. Africa?." Journal of Developmental Entrepreneurship 17.01 (2012): 1250006. Print."Enron: The Smartest Guys in the Room."IMDb. IMDb.com, nd Web. May 3 2014. .