Businesses, particularly small and medium enterprises, play a significant part in development of the economy. Most of the developing countries rely on large firms or multinationals for creation of jobs and upliftment of the wealth. However, historical trends have shown that this is not the case. Small businesses create employment opportunities and cheaper products on low overheads; however, these are also threatened by larger enterprises for their survival. Paving way for successful small businesses comes only with development of entrepreneurial behaviour. 
This presentation focuses on importance of entrepreneurial behaviour for the growth of small businesses. It is easier to set up a small enterprise but it takes passion, commitment and low degree of uncertainty avoidance –essentially the core elements of entrepreneurial behaviour- to take these businesses to the next level. Small enterprises are at a greater risk due to lack of managerial skills, lack of finances, lack of competitor and market information and lack of corporate outlook. However, if attention is paid to development of entrepreneurial behaviour at large, all these problems can be resolved. 
Entrepreneurship is the ability to seek out opportunities and turn them to profitable businesses. In the developing world, not only do the enterprises face internal problems but are also disturbed by political interference, terrorism, lack of infrastructure and technology. And more importantly, the failure of many new enterprises can be attributed to lack of entrepreneurial knowledge. This presentation will not only discuss the factors that play a key role in failure of many new entrepreneurial ventures but will also focus on how these businesses could be saved by applying entrepreneurial knowledge, theory and practice.