Question

what are the role of entrepreneurship in society​

Answer 1

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✴ The role of entrepreneurship in society are :-

• Entrepreneurship is important as it has the ability to improve standards of living and create wealth, not only for the entrepreneurs, but also for related businesses.

• Entrepreneurs also help drive change with innovation, where new and improved products enable new markets to be developed.

• Economy wise, higher earnings thanks to entrepreneurship can help boost national income and tax revenue.

• Entrepreneurs contribute in other ways as well, such as investing in community projects and supporting local charities.

• Too much entrepreneurship can be detrimental to economic development .

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Answer 2

Entrepreneurship Accelerates Economic Growth which creates employment possibilities now no longer best for themselves but for others as well.

Role of entrepreneurship:

• By growing new products and services, they stimulate new employment, which in the long run affects withinside the acceleration of monetary development.  
• So a public coverage that encourages and helps entrepreneurship needs to be taken into consideration as crucial for monetary growth.
• Identifying current possibilities in the marketplace - Through the manufacturing and distribution of goods and services, entrepreneurial ventures are seeking to fulfill customer desires and enhance livelihoods.

Entrepreneurial sports may also affect a country's monetary overall performance by bringing new merchandise, methods, and manufacturing tactics to the marketplace and by boosting productiveness and opposition extra broadly.

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