ENTREPRENEURSHIP

Detailed explanation-1: -Entrepreneurs boost economic growth by introducing innovative technologies, products, and services. Increased competition from entrepreneurs challenges existing firms to become more competitive. Entrepreneurs provide new job opportunities in the short and long term.

Detailed explanation-2: -Entrepreneurship Accelerates Economic Growth By creating new products and services, they stimulate new employment, which ultimately results in the acceleration of economic development. So public policy that encourages and supports entrepreneurship should be considered important for economic growth.

Detailed explanation-3: -Entrepreneurs provide a large number of employment opportunities to the people to manage their business activities. They generate direct as well as indirect employment to the unemployed persons by setting up more and more units of production at small-and large-scale levels.

Detailed explanation-4: -Create Jobs: With the growth of a business, entrepreneurs look for more people to help them. They buy more material, and from more people. The also hire more people to work for them. Sharing of Wealth: As entrepreneurs grow their business, the people working for them and in related businesses also grow.

Detailed explanation-5: -An entrepreneur is an individual who creates and grows a business through their creative ideas. Entrepreneurs play key roles besides generating income as they grow their businesses. An entrepreneur identifies a commercial need in their community, crafts a business idea and takes the lead role to start their business.