Abstract: The article is dedicated to considering of evolution of main concepts of leadership in entrepreneurship from the middle of XIX century till nowadays. As leadership is one of function of entrepreneurship and tasks for leaders become more and more complicated, theories of leadership change and develop according to the conditions of companies’ functioning. Transition from concepts based on personal features as basic of leadership, leader’s charisma to concepts, which identify different styles and types of leadership according to leader’s orientation — on organization’s results or people is described, in particular leadership’s “grid”, which define nine styles of leadership. Next theories expanded list of leadership styles. Modern concepts that take into account ability of adaptation of leader to changes in external environment, organizational culture of company, its strategy and structure and even characteristics of leader’s followers are defined. Such modern theories of leadership as emotional leadership by D.Goleman. theory of thumb by I.Adizes, R.Hogan’s theory, Synercube Leadership Theory of A. Zankovskiy, theory of fifth level leader by J. Collins are mentioned. These theories are used in companies to determine leader’s potential and ability to reach results and lead and manage people. Attention is paid to the concept of SMART-leadership, according to which leader should be oriented on six criteria that provide efficiency of leadership. Combinations of these criteria give great number of leader’s style. The research of importance of these criteria was conducted and results show that for employee of Ukrainian companies the most important criterion of effective leader is high orientation of results. So, complication of external conditions and focus on the human cause necessity of theories’ development and formulation new paradigm of leadership.