Question

Explain the role of central incentive services in entrepreneurship.(100 to 150 words)

Answer 1

Their responsibilities are to provide a stimulating business environment and development support to SMEs, by stimulating legislation, improving institutional capacities, rendering adequate measures of economic policy, and establishing the necessary infrastructure.

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Answer 2

Answer:

Entrepreneurship is the creation or extraction of value.With this definition, entrepreneurship is viewed as change, which may include other values than simply economic ones.

More narrow definitions have described entrepreneurship as the process of designing, launching and running a new business, which is often initially a small business, or as the "capacity and willingness to develop, organize and manage a business venture along with any of its risks to make a profit. The people who create these businesses are often referred to as entrepreneurs.While definitions of entrepreneurship typically focus on the launching and running of businesses, due to the high risks involved in launching a start-up, a significant proportion of start-up businesses have to close due to "lack of funding, bad business decisions, an economic crisis, lack of market demand, or a combination of all of these.

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