INTRODUCTION TO ENTREPRENEURSHIP
IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT
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Question
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reduce competition.
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pay taxes.
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limit job growth.
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charge interest
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Detailed explanation-1: -Employing Local Workers Small businesses contribute to local economies by bringing growth and innovation to the community in which the business is established. Small businesses also help stimulate economic growth by providing employment opportunities to people who may not be employable by larger corporations.
Detailed explanation-2: -Independent businesses provide their local economies with new jobs, products, revenue, services and more. Charitable and innovative contributions-Small businesses not only contribute economic benefits to their community but also charitable and innovative ones as well.
Detailed explanation-3: -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.