This paper observes the development of entrepreneurship in the context of the capitalist system within it shows its complex character in theoretical determinations. Entrepreneurship involves a higher level of ability to perceive business opportunities, so the first part deals with the theoretical concepts of entrepreneurship through personal, neoclassical and socio-cultural approach and the role of entrepreneurship in economic development through static and dynamic approach. Every stage of the development of enterprises need different skills and abilities, so the second part provides types of businesses according to stages of development of the company (pioneers, hustlers, strategists and coaches). Another classification identifies five types of entrepreneurs: idealist, optimizer, workers, jugglers and maintainers. After that paper considers the characteristics of successful entrepreneurs and business functions. Functions include strategic and planning function, organizational, management and control function of entrepreneurship. Furthermore, the paper presents the historical development of entrepreneurship from 18th to the 20th century and forming of economic schools of the 19th and 20th centuries: the French, British, German, Austrian, American, neoclassical and modern approach and entrepreneurship in Croatia in theory and practice. Finally, modern enterprise includes new trends in contemporary businesses such as virtual entrepreneurs, project leaders and power brokers. Also, there is recent emergence of the female entrepreneurship, one of the ways in which women who are unemployed, re-enter the world of entrepreneurship in developing countries and consequently, reduce their share in traditional female occupations. Moreover, great importance in modern enterprises have incentives to the development of women's entrepreneurship, moving barriers and challenges that women in business face, and their co-financing. In the last part of the female entrepreneurship is viewed through example company Bernarda Ltd.