Dear shankzster,

Being an entrepreneur will not be an advantage, per se, over those who have simply worked in a corporate environment. However, it can help to distinguish you from the competition if you present it effectively. You don't have to work with a team or supervise folks for it to count, but it does need to be a legitimate enterprise. You show the experience on your resume like you would any other company you work for, highlighting accomplishments and skills. If it is something you do full-time, then it would count as full-time experience. If you are working at another job full-time, then it would not necessarily be viewed as full-time. How the business is registered, whether a partnership/proprietorship or private limited, is up to you on how you want to classify it. There might be differences for tax purposes and the like, so it is best to look into that prior to setting up the business.

All work experience matters--full-time, part-time, internships, etc. When asked for number of years, it is defined as full-time, professional experience after your bachelor's degree. The reason it is defined in a specific way is so that all schools report a number that is equal and not left open for interpretation. But when it comes to evaluating applicants, all work experience matters as a way of learning about the applicant's skills, work ethic, career progression, and professional development.

Good luck with both your venture and your future applications!
Lisa