What is the Origin of Entrepreneurship?
Have you ever thought when the entrepreneurship came into existence? There are tons of meanings created over a certain period of time. Many think that the concept of entrepreneurship invented in the modern world, but that’s not the reality. In this post, we will talk about the origin and history of entrepreneurship in detail. Let’s check out the complete post so read until the end.
Also See: What is Entrepreneurship?
When it all Started?
The first entrepreneurship came into existence about more than 20,000 years ago. Some of you may be surprised to see this fact. However, the first known case tracts back to 17,000 BCE that took place in New Guinea. Here, the locals exchanged obsidian with things like skins, food, and tools.
Such business continued for many millennia to come. During that time, the ancient tribes exchange goods from various parts of certain areas for attaining a benefit for their tribe.
The first great revolution took place in entrepreneurship during the 12,000 years ago in the form of agricultural revolution. At that time, the individuals started to trade plants & animals with others with foods. It becomes a fundamental shift in human history. As a result, the human begins to create villages and towns near the fertile lands. The need for spending time on hunting gets eliminated.
Moreover, the process becomes efficient with only some farmers staying involved in the food production process, whereas the rest of people target other things. It makes individuals getting specialized in a variety of professions. They were the earliest entrepreneurs in the history of humanity. Some of the best areas of specialization at that time were fishing, tool-making, clothes-making, and tool-making. After some years, the variety of specialist’s increases by the addition of new areas likes carpentry, masonry, pottery, and many more.
Real Expansion from 2,000 BCE
With the invention of cities globally, international trade started that resulted in making entrepreneurs wealthy. Some popular trades at that time are mentioned below:
- Trade of salt from some African countries to nations fall under the Roman Empire.
- Trading of technologies like paper making from China to other parts of the world.
- Trade of lemons, oranges, and coffee by Arabians to European countries.
- Exchange of gunpowder from China to other nations of this world.
Invention of Money
The invention of money resulted in development of entrepreneurship to a different level. The barter system gets replaced with the exchange of money for goods. It resulted in providing a way to the entrepreneurs for storing value. On top of that, the long-distance get facilitated with the money.
It began all the way in the 18th century and continued until now. The businesses get boosted with the availability of energy production and labor. The age of new ideas started here and is continuing till date. Now, the entrepreneurship has become the heart of the economy. We believe the role of entrepreneurship will stay the same for many centuries to come.