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Asked a question 4 years ago

How can entrepreneurship be helpful for economy?

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Entrepreneurship plays key role in any economy. Entrepreneurs are important as they create business opportunities in economy. They develop and offer innovative goods and services to meet the wants and demands of people in society. Hence they prosper the economy. 

Entrepreneurs generates income in various sectors of economy, therefore increases GDP of the country. 

They create business which generate wealth in an economy by developing new market opportunities. 

Every entrepreneur needs people to run his business venture, so it employs people with various skills, knowledge and experience. Therefore it provides employment opportunities in the economy. 

By providing innovative products to its customers, it enhances quality of living of people in the economy.