ENTREPRENEURSHIP: Analysis of Economic Growth and Development

This report meticulously examines the multifaceted impact of entrepreneurship on economic growth and societal development. It begins by defining entrepreneurship and its fundamental role in planning and establishing new business ventures, emphasizing the contributions of entrepreneurs to economic expansion. The report then details how entrepreneurship boosts per capita production, controls business changes, modernizes economies, improves national output, and enhances people's skills. It explores the effects of entrepreneurship on wealth creation and allocation, highlighting how entrepreneurs utilize personal and external funds, which in turn fosters economic growth and appropriate wealth distribution. Furthermore, the report delves into how entrepreneurship boosts employment opportunities by creating jobs and improving living standards, as well as how it supports regional growth through infrastructure development and increased financial prudence. The analysis extends to the impact on GDP and per capita returns, trade, and community growth, emphasizing improved living patterns and the adoption of latest technologies. The report references key scholarly works to support its findings.

ENTREPRENEURSHIP

ENTREPRENEURSHIP
 Method that emphasizes on
a.) planning
b.) establishing a new business
idea
 ownership.
 Holders are considered as
“entrepreneurs”.

ENTREPRENEURSHIP IN RELATION TO GROWTH
OF ECONOMY
 Boosted per capita production.
 Controlled the changes in the business
Activities.
 Boosted modernization.
 Improved national output.
 Enhanced people skills.
 Basis of earning
(Parker, 2018).

ENTREPRENEURSHIP AFFECTED THE WEALTH
CREATION AND ALLOCATION
 Entrepreneurs have their personal funds
 Maintain funds from different sources .
 Sources can be:
a.) depositors
b.) creditors
c.) community.
 Maintain public health

ENTREPRENEURSHIP AFFECTED THE WEALTH
CREATION AND ALLOCATION
 Combined funds which boosted growth.
 Appropriate sharing.
 Control aspects related to
1. principles
2. GDP
3. Income value

ENTREPRENEURSHIP BOOSTED EMPLOYMENT
OPENINGS
 Industrialists can be known as
a.) employment makers
b.)offer work
c.)financial growth
d.)boosted relation with international
organizations .
e.)Boosted the living standard
(Kuratko, 2016).

ENTREPRENEURSHIP BOOSTED EMPLOYMENT
OPENINGS
Boosted the
earning methods..
Enhanced skills.
Given earning
source to :
a.) less qualification
individuals

ENTREPRENEURSHIP FOCUSED ON GROWTH RELATED
TO REGIONAL
Situated in under developed areas.
Substructure developments
a.) improved street
b.) rail connection
c.) resource source
d.)universities.

ENTREPRENEURSHIP FOCUSED ON GROWTH
RELATED TO REGIONAL
 Growth in
a.) aerodromes
b.) constant electricity
c.) infirmaries
d.) shopping mall
 Joint expenditure of workers.
 Improvement in monetary productivity
(Prieger et al., 2016).

ENTREPRENEURSHIP FOCUSED ON GROWTH RELATED
TO REGIONAL
 Increased sources
 Improved alertness.
 Advanced area.
 Raised county
financial prudence.

ENTREPRENEURSHIP FOCUSED ON GDP AND
PER CAPITA RETURNS
 Improved occupations with
growth in nation’s GDP.
 Improved assets
a.) employment
b.)wealth
c.) property
.

ENTREPRENEURSHIP FOCUSED ON GDP AND PER
CAPITA RETURNS
 Improved spending of
people.
 Increased service
ratio.
 Improved strategic
thinking.
 Modification of
products.