Role Of Entrepreneurship In Economic Development

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INTRODUCTION Economic development is fundamentally about enhancing factors of productive capacity land, labor, capital and technology of a national or local economy. By using its resources to reduce risk and cost that prohibit investment Decline in economic growth accompanied by unemployment, poverty and social problems has led to increased search for strategies which stimulate economic activity in the economies A strategy that has been growing in is the development of entrepreneurship since in entrepreneurship lead to increase in economic activities .Entrepreneurship together with small business development has been at centre of these effort based on the thesis that small businesses form context within which entrepreneurial activities takes place. Small importance businesses have higher potential for job generation of a lower cost per job created ROLE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT Entrepreneurship is the process of creating something new with value by devoting necessary time and effort assuming the accompanying financial ,psychic and social risk and receiving the resulting reward of money and personal satisfaction and independence Entrepreneurship helps the economy through creation of new jobs, in contrast to the belief that most entrepreneurs are those that are out of work or unable to find jobs, but about 76% of the businesses were driven by the desire to pursue opportunities and they employ at least one person. Evidence of creation of
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