Entrepreneurship development

Economic growth hinges upon entrepreneurship. A vibrant entrepreneurial climate provides new jobs, increases competitiveness, and produces novel goods and services. It is not surprising, therefore, to learn that policymakers attempt to increase entrepreneurial activity in numerous ways. They may reform the regulatory environment in order to reduce the number of permits and licences required to start a business. They may make more capital available to new firms via loans, subsidies or tax incentives. They may also increase the amount of resources devoted to education in general and business education in particular, in order to create a set of attitudes and skills in the populace that is conducive to entrepreneurship. Indeed, a dearth of entrepreneurial and managerial skills is a major impediment that less-developed economies face.

Related Subject(s): Economic and Social Development