The Role Of Entrepreneurship In The Development Of The Country's Economy

The Role Of Entrepreneurship In The Development Of The Country's Economy
The Role Of Entrepreneurship In The Development Of The Country's Economy

Video: The Role Of Entrepreneurship In The Development Of The Country's Economy

Video: Role of Entrepreneurship in Economic development - qualities of an Entrepreneur - BBA 2022, October
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The modern market economy is an interconnected system that includes many entrepreneurs. The role of business enterprises in the economy of any country can hardly be overestimated. It is business that creates new jobs, introduces technological innovations and ultimately helps to increase the economic power of the state.

The role of entrepreneurship in the development of the country's economy
The role of entrepreneurship in the development of the country's economy

Entrepreneurship and Economics

Entrepreneurship can be called the engine of the modern economy. Even the most developed state is not able to cover all aspects of economic activity without the support of a special layer of people involved in the creation and development of their own enterprises. Energetic and active businessmen find application of their organizational skills in various spheres of the economy, filling niches that are inaccessible to a clumsy state mechanism.

By creating enterprises for the production of material goods and the provision of various kinds of services, entrepreneurs solve the issues of employment of the population. Most jobs are created precisely in small and medium-sized enterprises. In this way, the foundation is laid for the formation of a middle class, without which society cannot develop and prosper in a stable manner.

Entrepreneurship forms a special stratum of people in society who are able to independently, at their own peril and risk, solve complex problems of managing the economy. In essence, entrepreneurial activity is a kind of forge of natural leaders, followed by other people. The expansion of the layer of entrepreneurs guarantees society self-government, in which most pressing economic issues are resolved without the direct participation of the state.

The role of entrepreneurship in the development of the country

One of the functions of an entrepreneur, which is reflected in the economic life of the country, is to correctly set goals, find resources to achieve them and combine the efforts of many people in the name of obtaining an end result that is useful for society. In a developed country, the authorities are trying to create all the conditions for removing obstacles that hinder the widespread dissemination of entrepreneurial initiative.

When creating his own business, an entrepreneur should strive to develop a long-term vision of the problems of the economy of a particular region and the whole country. Success in entrepreneurial activity comes only to those who are able to go beyond a narrow specialization and are ready to learn economic knowledge.

It is not surprising that both at the local level and at the level of the state as a whole, entrepreneurs are actively involved in the work of the legislative and executive authorities. Business experience also helps in the management of state structures. The opinion of entrepreneurs who know the specifics of economic activity is taken into account when developing economic programs for the development of regions.

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