Entrepreneurs are the powerful engine of economic growth. They have the capacity to change the economy for few decades .Earlier he was expected to bear the risk and uncertainty but now beside this he is required to coordinate the productive resources in varied ways, he is expected to take active role in introduction of innovations. Development of western economies is the result of Entrepreneurship. For development of economy lack innovative entrepreneurs so efforts should be made to produce innovative and imitating entrepreneurs. Entrepreneurship is an indispensible ingredient in transformation of global economy. Business people take financial risks and responsibilities. They make new forms of business organization on a commercial basis. Both small and medium business in the global economy had significantly increased over the past 30 to 40 years. Globalization has opened a window to the remainder of the planet. The introduction of international business played a vital role for the formation of a new generation of entrepreneurs by providing new technologies, global market is increased mainly in the field of telecommunications and computers. By discovery and exploration of new small business owners are breaking the existing barriers in international trade revealing the endless potential for their own growth and transforming the global economy today.