What is the Contribution Entrepreneurs are Making to the Economy?



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Nwagbosoh, Isaac, Management Consultant, Nigeria
What are the contributions of entrepreneurs in national economic development?

 
  The Role of Entrepreneurs in the Economy
zahra gheidar, Iran
In fact entrepreneurs are the last loop in the development of national economies.
Because they change facilities to profit. We can look at it like this: Even if we have capital, facilities, creativity even innovation but entrepreneurship is needed in a person with special traits. National economic development without entrepreneurs is impossible.
 
  Entrepreneurial Contribution
Young, United States
I would agree that entrepreneurs change facilities to profit and that economic development without them is impossible.
I am not sure how they become the last loop - in many cases, they may just end up being the last resort - the fire extinguisher behind the glass.
 
  Contribution of Entrepreneurs: The First Building Block
Adam Vernon, England
Yes, I agree with Young, they are if anything the first building block in the whole economy. Without entrepreneurs and innovation, the business world would be very static.
 
  Role of Entrepreneurs in Economy
zandbergen, Netherlands
There was a survey by Liedholm and Mead: "The Dynamic Role of Micro and Small Enterprises in the Development Process" Sep 1995.
They examined the dynamic role played by micro and small enterprises (MSEs) in the development process. Based on surveys and studies in a number of countries in Africa and Latin America, it presents new findings on MSE growth patterns. Many of these findings have important implications for the design and implementation of program to support the development of such enterprises. Central points highlighted in the paper were the following.
First, there is much turbulence among MSEs: many new enterprises are started each year. While many others cease to operate. The rate at which new MSEs are being created typically exceeds 20% per year, a rate much higher than previously thought. The annual closure rate is also high, with most closures occurring within the first three years after start-up. Not all closures, however, are a result of business failures.
 
   
 

   
 


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