An evaluation of the impact of napep on entrepreneurship development in nigeria 86 pages chapter 15. The role of entrepreneurship in economic development science. Pdf this study confirms that the level of entrepreneurship in a given country has a significant positive effect on the level of economic growth in. The role of entrepreneurship in economic growth abstract this study confirms that the level of entrepreneurship in a given country has a significant positive effect on the level of economic growth in that country. Entrepreneurship, innovation and economic growth past experiences, current knowledge and policy implications 1 february. As a startup founder or small business owner, you may think that you are simply working hard to build your own business and provide for yourself and your family. The entrepreneur is supposed to create ideas and put them into effect in fostering economic growth and development.
The importance of entrepreneurship to economic growth, job. The role of entrepreneurship in economic development. Contrary to some established theories, this study has found. The broad consensus among economists is that entrepreneurship matters for economic development and growth. In addition, the role of entrepreneurship in stimulating economic growth is a topic of much discussion in existing literature acs, 2006. An evaluation of the impact of napep on entrepreneurship.
The role of entrepreneurship in stimulating economic. Entrepreneurship is the primary factor in the growth of economies. Role of entrepreneurs in economic development 11 roles for economic growth of the country. Pdf the role of entrepreneurship in economic development in. Regardless of its description, entrepreneurship appears to play a key role in developing and developed economies alike. In fact, entrepreneurship is the engine of economic growth and it has come to be perceived as a catalytic agent for expansion and promotion of productive. Role of entrepreneurship in economic development semantic. Entrepreneurship plays an influential role in the economic growth and standard of living of the country. The results indicate that entrepreneurial attitudes are found to stimulate gdp per capita in highincome countries while entrepreneurial activity is.
Pdf the role of entrepreneurship in economic growth. It is the entrepreneurial communities who complement and supplement the economic growth increase per capita income by identifying and. The role of entrepreneurship in economic development in saudi arabia yusuf n 1 and albanawi ni 2 1 department of economics and administration, jamia street, king abdulaziz university, jeddah. Douglas barber, the importance of entrepreneurship to economic growth. Entrepreneurs create new businesses, and new businesses in turn create jobs. Role of entrepreneurship in economic development international. The study tells that the entrepreneur acts as a trigger head to give spark to economic. The empirical analyses suggest that entrepreneurship have an effect on economic growth differently in low income countries and high income. Entrepreneurship is one of the most important input in the economic development of a country. The role of entrepreneurship in stimulating economic growth in. Role of entrepreneurship in economic development pdf.
So it can be said that entrepreneurship is good for bearing as the economic function of the entrepreneur. Conclusion as the effect of entrepreneurial activities on economic growth come out in the long run, policies for entrepreneurship should be planned on a long. Pdf the role of entrepreneurship in economic development. He is the person who makes possible the maximum utilization of resources available in the country as an individual or in a group. The entrepreneurs have an important role in encouraging the economic development or growth or progress of any country. Each new business launched has an impact on an economy and affect people around it. High measured levels of entrepreneurship will thus translate into higher levels of economic development and growth in the macro economy. Over the past several decades the role of entrepreneurship in economic development has become an essential factor of employment, and innovations bring enhanced the market competition. Daniel smith, in his article titled the role of entrepreneurship in economic growth argues that even though a number of classical factors of economic development influence entrepreneurship in. Entrepreneurship plays a major role in all countries economies through generating new jobs and innovation, and in turn making a contribution to the economic growth. The role of entrepreneurship in economic development varies from economy to. The nexus between entrepreneurship and economic growth mdpi.1158 158 63 437 1442 862 437 1048 1466 253 24 874 615 1485 91 368 669 1495 1528 372 38 1086 1379 784 1114 768 742 589 518 1105 1079 1311