Question

Role of government in promotion of entreprenuer ship

Answer 1

The most important thing is the strategic intent of the team running the business. Government ministers can play a critical role in fostering enterprise and innovation. Their role is to direct the government departments and agencies to focus on the problem and develop effective policies. Government can offer state loans that target small-business, start-ups or female entrepreneurs. These are incentives that encourage entrepreneurship within the ecosystem. It is important for governments to continually reform their tax policies so that they promote small business growth.

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