Why the Word ‘Entrepreneurship’ Isn’t Just for Tech Bros and Billionaires

The word entrepreneur gets thrown around a lot these days. I use it often myself when talking about the people we support at Portobello Business Centre (PBC) - many of whom, by the way, are women. But as entrepreneurship has become more visible, I’ve noticed something interesting: the more popular the term becomes, the more certain people try to gatekeep who can use it.

And, it’s almost always men who challenge me on it.

“Just because someone started a business doesn’t make them an entrepreneur.”

“The word’s lost all meaning.”

“You’re only an entrepreneur if you’ve created something world-changing… or made millions.”

One friend said, “You’re an entrepreneur if you’ve performed successful alchemy.”

Really? Tell that to the woman juggling family, freelance work, a part-time job and still managing to launch something of her own. That’s not alchemy - that’s sheer determination.

Redefining the Term

By the standard definition, an entrepreneur is someone who starts and runs a business, taking on financial risk in the hope of making a profit or generating a surplus. That covers most of the people I know who run businesses - from sole traders and small limited companies to social enterprises and charities.

But over time, we’ve let that definition be replaced by a narrower, glossier version - one that idolises unicorn tech companies, disruptive innovation and billionaire success stories. You know the names - Gates, Bezos, Musk, Jobs. And maybe, if you’re lucky, Oprah will make the list.

That image is slick, global and male. And it doesn’t reflect the kind of entrepreneurship happening in the real world.

Where the Money Goes, Power Follows

Here’s the problem - that narrow image shapes where the money flows. In 2023, venture capital funding in the US hit $170 billion. Only 2% of that went to businesses founded solely by women. Even when a woman is part of a mixed founding team, the figure only reaches 23%. In Europe, it’s much the same story.

This matters. If women aren’t being funded, then they’re not being scaled. And if they’re not being scaled, they’re not being seen. That affects everything - from media narratives to policymaking to the next generation’s role models. And yet, the reality on the ground looks very different.

Women Are Already Doing the Work

At PBC, the pattern is clear. Women come through our doors ready to learn. They’re practical, thoughtful and serious about building something that lasts. They ask the right questions, put in the hours and get stuck in.

That’s why, when I think about the future of entrepreneurship, I see women at the forefront.

Young female entrepreneurs

The Entrepreneurs the Future Needs

The next era of entrepreneurship won’t be defined by who can make the biggest noise or raise the biggest round. It’ll be about who can adapt, who can connect, who can build with purpose and resilience. Those are the traits we’ll need in the 2030s and beyond - and the women I see coming through from our schools, universities and here at PBC, are already leading the way.

They’re building businesses grounded in values. They’re digitally capable, socially conscious and financially savvy. They don’t need to emulate the old guard - they’re creating something new altogether.

Let’s Stop Gatekeeping Greatness

Entrepreneurship isn’t about who gets the headlines. It’s about who takes the leap. Who builds something where there was nothing. Who keeps going when the odds are against them.

So, if you’ve started something of your own - whether it’s a shop, a consultancy, a CIC, a creative project or something no one else quite understands yet - and you’re doing it with drive, vision and purpose - then you’re an entrepreneur. Full stop.

And don’t let anyone - man, myth or venture capitalist - tell you otherwise!