This article explores the potential use of ethnomusicology in the development of entrepreneurialism amongst Western classical music students studying at UK music colleges. It is argued that both 'doing' and 'reading' ethnomusicology can encourage students to explore the diverse uses and meanings attached to Western classical music in varied social and geographic contexts. The knowledge garnered through ethnomusicology can then be applied in creative, informed and situational ways by students in the development of entrepreneurial strategies. As a by-product, it is suggested that ethnomusicology can be used to reframe entrepreneurialism as a musical, relational and interactive process.