In the field of higher music education conservatories, and more specifically in the so-called 'classical music', the first steps towards research regarding entrepreneurship are being taken, although the main obstacles to overcome are still at a conceptual level (to define what is entrepreneurship in this field, what the profile of a musician entrepreneur is, what exactly is understood when we talk about an entrepreneurial identity referred to Western classical music) and on a referential level (research is scarce on the professional identity of classical musicians, on motivation that leads to professional success, on employability of a musician in the 21st century). At the same time, thought and analysis are lacking on how music education addresses entrepreneurial spirit and how conservatories for higher education in Western classical music could provide their students with the necessary capacities to become professional entrepreneurial musicians. This article aims to explore the state of entrepreneurship of classical musicians and analyse what challenges and barriers are found in particular in this subfield. In order to clarify the key concepts, the most relevant and recent literature in entrepreneurship education has been reviewed. Searching for avenues for entrepreneurship education in music conservatories, theory and practice have been merged by applying the literature findings to some practical considerations raised at the International Conference on Music Entrepreneurship recently held in The Hague, together with the personal experience in the specific context of higher music education conservatories.