Abstract: Different aspects of economic activity and the phenomenon of entrepreneurial activity are considered by different sciences: economics, management, a number of legal sciences, sociology, philosophy, psychology, etc. Despite the common features that characterize economic and entrepreneurial activities, there are important differences. The most important difference between business and economic activity is not the simple desire of the business entity to benefit, but systematic profit from the use of property, sale of goods, works or services to persons registered in this capacity in the manner prescribed by law. The regularity of its receipt is an external sign of entrepreneurial activity.

The article examines the theoretical aspects of the formation of the mechanism of entrepreneurial activity and its components - economic, organizational, social, as well as outlines the features of their joint implementation. It is determined that entrepreneurship is a complex organized system, the defining aspects of which are transformational, cognitive and value-oriented activities. Analysis of the essential aspects of entrepreneurship in the system of subject-object relations allows us to identify entrepreneurship as a special type of economic activity. It is determined that effective entrepreneurial activity is impossible without the coordinated action of all three components of the mechanism of entrepreneurship.

This article attempts to clarify the classification of the above elements of the mechanism, in particular, a new approach to the classification of forms of entrepreneurship on the basis of innovation. The importance of supporting and developing innovation as a unifying factor of entrepreneurship, regardless of the form, specialization, direction and method of doing business, is also emphasized.