<p>Sustained improvement in citizen’s well-being is the focus of government. One main factor that contributes to improved well-being and reduction of feelings of deprivation is the acquisition of relevant skills (that increases earning power) acquired through entrepreneurship. This paper explores the relationship between deprivation, subjective well-being and entrepreneurship development. Results of the analysis of four dimensions of relative deprivation, eight objects of comparison and thirteen self-reported reference groups show that: (a) entrepreneurs suffer more of inter-temporal deprivation, (b) no particular object of comparison was chosen as the only or first-ranked object by all correspondents to compare life outcomes with others (c) neither is any particular object of comparison was least ranked by all correspondents to compare life outcomes with others (d) entrepreneurship development programs impact positively on subjective well-being. Thus a government policy effort in establishing more entrepreneurship programs across the nation, committing viable resources to the programs, and providing a platform for synergy of private partnership will not only impact positively on economic growth but reduce level of deprivation.</p>