How do successful entrepreneur affect the development of new businesses?
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Entrepreneurship Impact on Economy
Many different conditions in society can create entrepreneurial opportunities. for new goods and services. ... In this way, the entrepreneur is contributing to economic growth and society by providing customers with goods and services whose costs to provide are less than their value to consumers.
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Entrepreneurs boost economic growth by introducing innovative technologies, products, and services. Increased competition from entrepreneurs challenges existing firms to become more competitive. ... Entrepreneurial activity raises the productivity of firms and economies.
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