Significance of entrepreneurship in the economy
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The role of an entrepreneur in the economy starts with being an innovator. Starting a new enterprise is an innovation and the individual responsible to make that innovation successful by carrying out all the activities related to that innovation is the entrepreneur. Along with the innovation, the entrepreneur also has to focus on identifying the profitable opportunities that can be utilized to make the innovation grow and earn profits. To identify constructive openings in the market for the business, an entrepreneur has to take risks and should be careful is such situations. They should be competent to deal with a risk being faced during the business operation and distinguish it from an uncertain situation.
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