The paper analyzes in detail entrepreneurship as a key factor in economic development and innovation. Entrepreneurship is defined as a process that involves the creation and management of new businesses with the goal of creating value through innovative ideas, products and services. The paper examines the key characteristics of successful entrepreneurs such as innovation, creativity, courage, independence, responsibility and vision. These characteristics enable entrepreneurs to identify business opportunities and transform them into sustainable business models. Entrepreneurial skills such as resilience, flexibility, confidence and the ability to take risks and deal with uncertainty are also key to success. The paper looks at different types of entrepreneurs, including imitators, innovators, buyers and researchers, noting that each of these types requires a specific approach and strategy to succeed in the market. Special attention in the paper is devoted to the role of student associations in promoting entrepreneurship among young people. Student associations represent an important link for the development of entrepreneurial skills and offer students the opportunity to gain practical experience through projects, workshops and networking. In addition, the paper describes how, by participating in associations, students develop leadership, teamwork and innovative thinking skills, preparing them for future entrepreneurial endeavors. Furthermore, the paper addresses the challenges faced by entrepreneurs, including stress, work-life balance, financial difficulties and high risk of failure. The analysis of these elements highlighted the importance of developing and promoting entrepreneurial skills and characteristics, as well as the role of student associations as a key factor in successful entrepreneurship.