Question

Role of entrepreneurship in industrial development notes

Answer 1

$<b>$The creation of new goods and services improves the quality of living of companies and individuals.

Entrepreneurs acquire capital from their equity sources or loans from banks to build their business which adds value to the creation of wealth, influencing the economy and industrial structure of a country directly.

There is a very important role for entrepreneurs to spark economic development by starting new businesses, creating jobs, and contributing to improvement in various key goals such as GDP, exports, standard of living, skills development and community development