Unternehmertum und Organisationsmanagement

The Role of Entrepreneurship on the Economic Growth and Development

Abstract

Tamara Maaitah*

To achieve the country economic development and growth, entrepreneurship takes a central role in creating and extracting value. Entrepreneurs mostly contribute on the road to a balanced economic development through the superlative use of obtainable properties as they generate innovative dealings and occupational locations for individuals and ease in cumulative competition over the practice of IT skills, the outcome of which is efficiency, Instinctively, large systematic developments in the industrial segment generate a ration of chances for advanced businesspersons, while other entrepreneurs progressively familiarize to the measured step of scientific growth in the facilities subdivision the development of the state-run and the development of its economy. Economic evolution over entrepreneurship stem from the conversion of exclusive possessions such as, land, employment and money, into nationwide revenue and properties and facilities, representing wealth. The net national product and per capita there via increases, evidencing the dependence of economic development on entrepreneurship. Even with a considerable number of funds, a nation state may still discovery it difficult to progress its economy without entrepreneurship.