IoT can enable and facilitate entrepreneurs in their pursuit to develop strong production and service processes, reach the market faster and interact with their customers in a whole new way, backed by the latest technology. It also gives them an ability to remotely manage and monitor Internet-connected things, and the services that they offer to customers. IoT has its applications in various aspects of entrepreneurship like production (through data analysis of critical production parameters based on sensors), marketing (customer behavior analysis, store footfall surveillance, predictive stocking), human resources (manpower monitoring, surveillance, shop floor productivity tracking, productivity linked payroll).