Role Of Entrepreneurship In Economic Development Ppt – 2 Entrepreneurship: the act of creating a business that requires the ability to organize an opportunity, formulate a goal and take advantage of a situation. Gross National Product: Describes in monetary terms the total annual flow of goods and services into a country’s economy. Micro-entrepreneurs: People who have started a business with little capital.
Employment in economic growth: As new businesses are created and grow, employment opportunities for people increase. The creation of new businesses can reduce the number of unemployed in a country, thereby increasing the gross national product. Foreign Exchange: Companies that export products bring dollars into the industry. This is especially useful when the peso-dollar exchange rate is high in favor of the dollar.
Role Of Entrepreneurship In Economic Development Ppt
4 Link to Industry: Small entrepreneurs supply goods and services to large companies. These transactions lead to the sharing of knowledge about advances in technology. This will lead to an increase in the quality of the offered goods and services. New markets and products: Entrepreneurs venture into business to create products that consumers need. Through their creativity, they offer various items that contribute to the country’s GNP. Increased production means more revenue for the government.
Green Skills Ppt
Entrepreneurship improves living standards: people get new products and services that make their lives easier and more enjoyable. Main source of growth: If more people are engaged in entrepreneurial activities, more employment opportunities will be created. This will eventually lead to an increase in GNP. Social benefits: Public money collected in the form of taxes from various institutions, including businesses, is used to improve national roads, industrial and agricultural facilities, health services and other areas related to society.
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