The release in 2006 by the New Zealand Ministry of Education of a Draft national Curriculum set for release in November 2007 challenges schools and teachers to evolve their role to align with the priority to "embed" enterprise values and methodologies. These values and methodologies will be expressed in curricula that school communities will develop locally in line with the new national Curriculum. This paper contextualises the place of "enterprise" in the Draft New Zealand Curriculum of 2006 and considers some modifications in the final version released in November 2007. The possible impact of an emphasis on enterprise for teacher education is considered before evaluating "enterprise" in reference to the occupational role of teachers, expressed here as their "teacher professionality", following the work of Hoyle & John (1995). This paper extends the concept of "professionality" to what is termed "ethical teacher professionality". It concludes by giving thought to how an enterprise focus in the New Zealand Curriculum challenges teacher education and the concept of ethical teacher professionality.