Contemporary markets that are distinguished by high degree of instability have prompted the necessity for correction of development models in all economies that are market-orientated and aspiring to be competitive on a global level. As a response to the challenge, many countries have ’turned’ to the sector of small and medium-size companies that have the necessary degree of business flexibility and adaptibility in response to external influences. The fundamental development resource of the „small business“ subject is the entrepreneurship. Understanding of this concept is a primary prerequisite of its implementation. Thus, the aim of thispaper is to highlight the main characteristics and implications of entrepreneurship, with a special emphasis on agro-business, cosidering the importance of this area not only in economical parameters.