The topic of the paper is the analysis of business opportunities for small companies in the industry of information and communication technology in the Republic of Croatia. The paper begins with the definition of entrepreneurship and entrepreneurs as phenomena that are crucial in the economy today; what are these business opportunities and in what ways can entrepreneurs recognize them as such and finally realize them successfully in business. The paper presents models that help in analyzing opportunities and assessing the actual business potential for each individual opportunity. Furthermore, there is talk about the very way of starting a business venture, what difficulties new "young" entrepreneurs may encounter and what all the mitigating circumstances are available to them. Any new entrepreneur or one who wants to become one can compete for various incentives when starting a business independently through the system of state aid or support of local self-government units. Also, various business incubators and methods of financing are mentioned and discussed, where the analysis showed that the traditional method of financing through bank loans is still present in the Republic of Croatia, and less through venture capital funds or business angels. Then, the structure and state of the ICT industry in the Republic of Croatia are defined and analyzed below. The methods used in the analysis are the historical method and the method of comparison over a certain observed time period. The very definition of the ICT industry is complicated at first glance, but solely because many firms, especially large ones, have many registered industries that can be classified into various industries. The main components or subsectors that make up ICT are information technology and telecommunications. The last part of the paper analyzes the structure of companies in the information and communication technology industry.