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Outline the Contribution of entrepreneurship towards national development

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i) Creates employment; Producers, warehousing, transport, insurance e.t.c
Which are basically levels of employment
ii) Facilitates use of local resources through which
- local and international transactions are established
- production of more goods and services

iii) Rural development which in effect.
- Promotes change to the formal sector from informal sector
- Equitable development
- Reduced rural-urban migrations.
iv) Development of technology through
- establishment of research institutions-? education systems

v) Government revenue
- through taxes
- from domestic borrowing (TBs)
vi) Facilitating community development through
- Establishment of small businesses
- Participation in community dev. Projects
vii) Providing a positive role model and facilitating.
- Competition between domestic entrepreneurship and imported
- Stimulating dev. Of entrepreneurship.
viii) Reducing dependence on imported goods and services.
ix) Stimulates competition through
- Quality production methods are adopted
- Quality products are produced
- Variety goods and services are produced.
x) Facilitated development of the financial sector through which;
- Capital accumulation is possible through savings
- Loaning is facilitated
- Development of the capital market.
Others
- Improvement of standard of living
- Development of infrastructure by the government in where there are productive
businesses
- Increased consumer choice because a variety of goods and services are provided
- Stability of prices
- Reduced domination of certain sectors by foreigners

Titany answered the question on November 10, 2021 at 05:40

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