10 government role in entrepreneurship

1. Today, governments around the world are keenly aware of the role of entrepreneurs in their economies, especially in job creation. 4. Financing of small scale industries in Developing Countries. Stimulating entrepreneurial activity: The role of local ... Role Of Agencies assisting Entrepreneurship. As a startup founder or small business owner, you may think that you are simply working hard to build your own business and provide for yourself and your family. It recommended that government policy should target indirect rather than direct strategies with a greater focus on the role of small firms. Role of Government in promoting Entrepreneurship . Government policy, in turn, shapes the institutional environment in which entrepreneurial decisions are made. It proves the ignorance of entrepreneurship support. On April 23, 1910, at the Sorbonne in Paris, America's 26th President, Theodore Roosevelt delivered his celebrated speech . Role of Entrepreneurs. 3. (008974 . This study aims to identify the factors that promote women entrepreneurship in Uttarakhand, a state in India. Fostering the growth of entrepreneurial ecosystems 1. How governments can support more entrepreneurs after COVID ... Entrepreneurship has been the backbone of the Zambian economy since the ardent of privatization, as many people no longer depend on the government for them to survive except in few situations. PDF The Effect of Entrepreneurial Education and Training on ... Bhd. The Relationship Between Gender Role Characteristics and ESE of Male and Female Entrepreneurs at Various Entrepreneurship Stages. The entrepreneur plays multi-dimensional roles associated with the entrepreneurial pursuit. „The Role of Banks in the development of entrepreneurship in India‟ DOI: 10.9790/487X-2007027174 www.iosrjournals.org 73 | Page The banks could also perform a great role in entrepreneurship development by organizing, sponsoring and entrepreneurship development at grassroot level should be targeted so as to provide self-employment opportunities to technology-deficient section of the society. Government develop industries in rural and backward areas by giving various facilities with the objective of balances regional development.The government set programmes to help entrepreneurs in the field of technique,finance,market and entrepreneurial development so that . Establish policies (e.g. Hence, government plays an essential role in promoting innovation and entrepreneurship throughout the country or in a certain region. 'Policy entrepreneurs' are individuals in the policy process who advocate for a specific policy proposal, build coalitions or secure political action and are willing to invest their own resources as well as their social and political capital in hopes of a future . The structure of the instruments applied by local units reveals a very important problem. First and foremost it establishes the crucial underlying condition: a safe civil society and the rule of law. The joint role of corruption and government size, and their effects independently on entrepreneurship, are an important question for future research because . Mendoza, Brenda and Llanto, Gilberto. VIEW. Village industry has been defined as any industry located in a rural area which produces any goods, renders any service with or without the use of power and in which the fixed capital investment per head or artisan or worker is specified by the central government, from time to time. Examining the 15 contributions of the special issue on the "Economic effects of the COVID-19 pandemic on entrepreneurship and small businesses," the . matching funding with the private sector such as the SBIR from the US government) to ensure the availability of risk capital. Path-breaking offerings by entrepreneurs, in the form of new goods . Importance of Entrepreneurship: Types, Benefits, and Styles. Ms. Anubha Rastogi Astt. A lot of hard work goes into starting and eventually expanding an enterprise. Initiating and growing a business to its maturity is a traditional role for entrepreneurs. Each interview lasted about 1 h: The aim of these interviews was to obtain the interviewees' view on the social entrepreneurship scene in Egypt in general, the challenges facing the enterprises, and the role of the government in supporting the field The role of the government in promoting entrepreneurship can't be underrated. The Government of Kenya recognized the The following are six reasons why entrepreneurship capital is important to the economy:. After Independence it was found that most of the industrial growth was limited to a few areas and confined to few top business houses . To this end, they sponsor a range of initiatives to stimulate entrepreneurship, including business plan competitions, entrepreneur training and consulting, new business incubators, venture capital financing, tax holidays and other subsidies, and preference for local . Grounded in It is in these types of settings that the government can often play a very positive role as a catalyst. Nevertheless, from the last decades, due to some organizational policies and environmental flexibility, SMEs face a lot of challenges which became . […] Using information on fiscal transfers in Poland, this column documents beneficial effects of local government funding as a mechanism to alleviate entrepreneurial constraints and spur firm formation. Much of that innovation derives from forward-thinking individuals who possess the drive, skills, and background to turn a business vision into reality. In addition it is often is a source of early stage venture funding for entrepreneurs, supplementing and stimulating the venture capital sector. Women entrepreneurs must be given training to operate and run a business successfully. In studying why policies change, researchers have highlighted the role of policy entrepreneurs. Over the past few years, the government has introduced various schemes to boost the startup ecosystem and encourage entrepreneurship. A Study of the Convergence Between Entrepreneurship, Government Policy, and Higher Education in Oman: Entrepreneurial Ecosystem Perspective: 10.4018/978-1-7998-8505-4.ch003: This chapter examines the inter-relationships between government policy and higher education in the development of entrepreneurship in Oman. Abstract. Government and NGOs must provide assistance to entrepreneurs, both in financial and non financial areas. Entrepreneurship is the process by which either an individual or a team identifies a business opportunity and acquires and deploys the necessary resources . Various agencies and . In the activities associated with entrepreneurship and venture capital, the actions of any one group are likely to have positive spillovers—or, in the language of economics, "externalities"—for their peers. Government plays a very important role in developing entrepreneurship. Conversely, tourism and hospitality has a . The following highlights from data series produced by BLS Business Employment Dynamics (BED) program provide . Unlike previous work (Aidis et al., 2010; Bjørnskov and Foss, 2008; Estrin et al., 2013), we do not find strong evidence that entrepreneurship will be crowded out by government size. Fostering the growth of entrepreneurial ecosystems Over the past 35 years the level of government interest in entrepreneurship and small business development as potential solutions to flagging economic . 109-115. doi: 10.11648/j.sjbm.20140204.12 Abstract: This paper aims to develop a conceptual framework that examines the role government policy plays in the However, while emphasizing the role of government, innovation theories are also careful to point out the limitations and pitfalls in government action, especially of the top-down approach. Central government: All interviews were conducted from the period between November 2017-July 2018. Balanced Regional Development 5. About the Role of Central Government and State Government in promoting Entrepreneurship . Gender roles, role models and entrepreneurial ecosystems are issues the book aims to question. Government decided to encourage entrepreneurial activities and ventures through various incentives in both industrially backward and rural areas. Answer (1 of 12): A government, any elected government comes to power after vanquishing an existing government or is re-elected by the people to continue on its mandate. Society requires education to prepare students with the tools and ability to navigate and find success for unknown futures. Focusing on the promotion of entrepreneurial intention (EI) under the background of entrepreneurship education (EE), this study used a structural equation model to examine the role of entrepreneurship policy (EPo), entrepreneurial practice (EPr), and entrepreneurial spirit (ES) on the . In Kenya entrepreneurship training has been recognized during Kenya's economic planning in a number of government economic instruments and strategies. Index Terms - Entrepreneurship Development, Policy Reforms, Self-employment, Start-ups, Skill Development. As societies progress, people regularly develop new needs that an entrepreneur can . Features of Indian Women Entrepreneurs Women entrepreneurship is more common in younger age groups in comparison to older age groups (Dhameja et al 2000). Small and medium enterprises (SMEs) play a major role in economic development in every country, including in African countries. The answer to the first is fairly simple: the Global Entrepreneurship Summit is an annual US government initiative to bring US businesses face-to-face with international entrepreneurs. Thus the influence of formal and informal institutions may also differ. The entrepreneur plays a vital role in nurturing economic growth and development of an economy. 2. Singapore: ISEAS Publishing, 2004. On the whole, immigrant entrepreneurship is somewhat stronger for VC-backed firms, with 31% of VC-backed founders being immigrants, compared to 25% of all entrepreneurs in 2005. Entrepreneurship plays a vital role in the growth of the U.S. economy. ADVERTISEMENTS: Everything you need to know about the roles played by an entrepreneur. Research Aim: This aim of this study was to explore the role of innovation in the context of entrepreneurship. Role of Agencies Assisting Entrepreneurship: DICs, SSIs. American Journal of Humanities and Social Sciences Research (AJHSSR) 2018 American Journal of Humanities and Social Sciences Research (AJHSSR) e-ISSN :2378-703X Volume-02, Issue-11, pp-177-187 www.ajhssr.com Research Paper Open Access THE ROLE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT OF NIGERIAN Dr. Ethelmary Dim1, Dr. Inya Ibiam2 and Ebebe Gertrude3 1 Dept of Business Admin, Chukwuemeka . So, what is the role of government to support and encourage innovation development from entrepreneurs? Jua kali voucher support program of 1995 - 2001 (Riley and Steel 2000) is such strategy where micro and small entrepreneur were offered training programmes. Entrepreneurship can be given a boost by government through more credit facilities as well as assistance in training, research and technology. The resolution of this apparent paradox is dramatic heterogeneity across sectors, with some industries seeing robust innovation and entrepreneurship and others seeing stagnation. In an ideal world, a good government would 1. Women establish their enterprise for economic independence and empowerment. Entrepreneurship is an act of being an entrepreneur, or "the owner or manager of a business enterprise who, by risk and initiative, attempts to make profits". Generation of Employment 4. Create Knowledge Spillovers 10. Entrepreneurship is a sustainable development tool that supports the alleviation of poverty and unemployment. One has to understand that in reality, a successful entrepreneur contributes in many ways to the economy. 2, No. Table 4 presents the correlations among the gender role factors and ESE at each of the entrepreneurship stages. #1. 3. Businesses either of small scale or large scale, all have various types of disc risks and uncertainties persisting at each step. Backward and Forward Linkages 8. Entrepreneurship education has the potential to deliver the relevant curriculum and competencies to support young people to develop resilience, independence, innovation and ability to recognise opportunities to live productive and rewarding lives in this new post COVID-19 . Government dignitaries, heads of agencies, and captains of industries were in attendance at the sixth edition of the youth enterprise empowerment scheme, Kickstart Initiative Awards Ceremony which . Government policy has a significant indirect effect on organizational performance through the mediating role of public entrepreneurship with a standardized coefficient of 0.566. Role of Entrepreneurship in Economic Development: Entrepreneurship plays an influential role in the economic growth and standard of living in the country. The role of government in entrepreneurship is listed below: • The government helps the entrepreneur in meeting up specific requirements such as providing them with suitable funds to set up business or in up gradation of the industrial unit. . Role of Government in organizing EDP'S 2. Nkem Okpa Obaji, Mercy Uche Olugu. Recent decades have seen substantial growth in the range of assistance programmes for SMEs and entrepreneurs across the world. The seventh installment of the National Youth Entrepreneurship Awards, held at the Houghton Hotel, celebrated young learners as climate change activists and entrepreneurs of the green economy. Malay entrepreneurs are also seen as too dependent on government assistance due to their lack of capital, business experiences and skills, innovativeness and perseverance. But you are actually doing a whol The Nigerian Export Promotion Council. Therefore, the role of non-government organizations (NGOs) is imminent in supporting women's . When in June last year, during Modi's visit to the White House, President Trump announced that the 2017 edition would be in India, he underscored the . Top 10 Government Agencies that Support SMEs in Nigeria. The institution has over the years worked to achieve its mandate by . Here are 11 entrepreneurial roles to familiarize yourself with before you set up a business: 1. The role of the government for entrepreneurship development is not limited to nancing support (Obaji 2014), and the simultaneous implementation of appropriate educational and cultural policies . 5. Various Financial institutions (including IFCI, ICICI, IDBI and SIDBI) VIEW. An Agency of the Department of Economic Development - Government of Dubai Expanding Entrepreneur Development Role to SME Development Role Facilitate, Enable, Support and Develop Programs focused on sectors - policy development and advocacy (remove barriers), training & capability development (sector productivity & 2. 11 roles of an entrepreneur. The Nigerian Export Promotion Council (NEPC) is the Federal Government of Nigeria's apex institution for promoting development and diversification of exports in Nigeria. Entrepreneurship plays a vital role in the development of a country's economy as this is the key contributor to innovativeness, product improvement, reduction of unemployment and poverty.. Government's Role in Developing Entrepreneurship and SMEs in the Philippines" In Entrepreneurship and SMEs in Southeast Asia edited by Denis Hew Wei-Yen and Loi Wee Nee, 150-174. The importance of entrepreneurs extends beyond the effect those individuals have on their own . As the primary source for information on the nation's labor market, the U.S. Bureau of Labor Statistics (BLS) collects data on new businesses and job creation. 4, 2014, pp. Promotional Help. Table 5 provides the findings of the regression analyses. The study builds on existing literature on entrepreneurship, economic development and government policy as it relates to entrepreneurial practices. Local government mostly identifies support for the economic initiatives with the expansion of infrastructure (roads, supplies, media and so on). Inspire Others towards Entrepreneurship 9. Initiating and leading business activities. Improvement in Per Capita Income 3. Co-ordinate. The entrepreneur plays a vital role in nurturing economic growth and development of an economy. Some of the roles of entrepreneurs are:- 1. reduced capital gains taxes) and programs (e.g. Women entrepreneurship also leads to social and economic empowerment of women. Although, women have the potential to become entrepreneurs, they do not have the right opportunities to explore it. The book brings a global range of scholarly voices to examine women and entrepreneurship in developing nations, exploring their practices and motivations in relation to individual, societal and institutional factors. Previous studies have concluded that entrepreneurship has an important role in the development of the tourism and hospitality sector [1,2,3,23, 24]. The Changing Role of Government and Entrepreneurship in America. Entrepreneurship is the capacity and willingness to develop and participate in a business venture with the intention of making a profit regardless of the financial risks involved. Abstract. The culture of entrepreneurship and risk-taking has yet to be fully implanted in the Malay business community. Introduction and background. Economies are powered by innovation. According to Pandit Jawaharlal Nehru, "When women moves forward, the family moves, the village moves, and the nation moves." Women entrepreneurship has been recognized as an important, untapped source of economic growth during the last decade. Prof, Vidya School Of Business 2017-18. The outcomes of literature review propose two hypotheses. The data comes from […] Entrepreneurship is an important engine of growth. 1. Throughout all of the above areas in enriching innovation and entrepreneurship, government actions and policies play an important role [61,75,76]. Basis of Business. "9. The results show that for female entrepreneurs, the masculine factor of "Compete" and the . The Role of Government Policy in Entrepreneurship Development. The Role of Interorganizational Competition in Motivating Street-Level Bureaucrats to Adopt Policy Entrepreneurship Strategies: The Case of Israeli Rabbis in Government Hospitals Niva Golan-Nadir The American Review of Public Administration 2020 51 : 2 , 107-120 Women Entrepreneurship: Definitions, Problems, Roles, Importance, Features, Functions, Benefits, Need and Schemes Women Entrepreneurship - Definitions Women entrepreneurs may be defined as a woman or a group of women who initiate, organise and run a business concern.. Schumpeter - "Women entrepreneurs are those women who innovate, initiate or adopt a business activity". Woman Entrepreneurs in India - Role of Woman Entrepreneurs in Society. Create a policy framework that is pro-business and pro-employment 2. Create incentives for risk capital. A government's role is not to build a system and they cannot shape entrepreneurial communities overnight. Hence, it is said that business is the game of risk and business is full of risk. Schumpeter opines that the entrepreneurial process is a major factor in economic development and the entrepreneur is the key . Entrepreneurship plays an influential role in the economic growth and standard of living of the country. Role and Importance of Entrepreneur. The Role of the Entrepreneur and Government in the Development of Korean Information Technology Firms: 10.4018/978-1-4666-4753-4.ch007: This chapter examines how an entrepreneur's strategic choice influences corporate development leading to the initial public offering. By construction, the impact of innovation and entrepreneurship on overall economic performance is the cumulative impact of their effects on individual sectors. The role of entrepreneurship in any economy is critical, as it contributes to the socio-economic development of societies in various ways, including Identifying existing opportunities in the market - Through . However, most entrepreneurs are not aware of these initiatives, and they do not take advantage of such schemes. Government plays a crucial role in small- and medium-sized enterprises boost performance and economic growth because it creates employment opportunities, poverty reduction, and economic development. District Industries Centres (DICS) • Provides full assistance to the entrepreneurs who are going to start the business on their own and in their regional places. Results: The research results reveal that government policy has a significant direct influence on organizational performance with a standardized coefficient of 0.655. Entrepreneurship development programmes 1. Entrepreneurs Create New Businesses. Training. The entrepreneur plays multi-dimensional roles associated with the entrepreneurial pursuit. The existential threat to small businesses, based on their crucial role in the economy, is behind the plethora of scholarly studies in 2020, the first year of the COVID-19 pandemic. I INTRODUCTION Entrepreneurship plays a significant role in the economic • The government has been taking several steps to promote entrepreneurship in various service and . Vol. This paper serves as an introduction to the special issue of Entrepreneurship Theory and Practice on government policy and entrepreneurial activity. So to explain it in a better way, let us break it down into . One has to understand that in reality, a successful entrepreneur contributes in many ways to the economy. Some of the remedial measures that can be undertaken to promote women entrepreneurship in India, are as follows. This paper aims to develop a conceptual framework that examines the role government policy plays in the development of entrepreneurship and its impact on economic development. The main investigated areas were related to the key factors that affect the development of innovation. MSME AND BUSINESS ENTREPRENEURSHIP 207 Village Industries. It recommended that government policy should target indirect rather than direct strategies with a greater focus on the role of small firms. First, whereas larger government may even deter commercial entrepreneurship (CE) (Aidis et al., Economic Independence 7. Furthermore, this research was focused on the exploration of the actual concept of innovation and its possibility of transformation. The government's assumption is that support for innovation will enhance entrepreneurship development, which will in turn accelerate economic growth. Entrepreneurs act as managers and oversee the launch and growth of an enterprise. However, ' a broad search of the literature reveals that the fundamental and general question of how, and if, governments are able to influence positively entrepreneurial activity is far from being resolved . Entrepreneurs also need help in marketing and product . ADVERTISEMENTS: Everything you need to know about the roles played by an entrepreneur. Improvement in Living Standards 6. The role and importance of entrepreneur may be explained, as follows: 1. Women entrepreneurs have diverse educational background (Patole, M., & Ruthven, O., 2002). Entrepreneurship, which is basically the practice of starting a business in order to earn a profit on newfound opportunities, can go a long way to stabilize the economy of a nation as well as generate . Capital Formation 2. The 'District Industries Centre' (DICs) programme was started by the central government in 1978 with the objective of providing a focal point for promoting small, tiny, cottage and village industries in a particular area and to make available to them all necessary services and . Entrepreneurs are, thus, the seeds of industrial development and the fruits of industrial development are greater employment opportunities to unemployed youth, increase in per capita income, higher standard of living and increased individual saving, revenue to the government in the form of income tax, sales tax, export duties, import duties, and balanced regional development. ever, the social entrepreneur's decision and action logic often relates to pro-social or "other" interests (Santos, 2012; Zahra et al., 2009). • Government's role is foundational and cannot be taken for granted. However, in the face of a post-COVID-19 recession and record unemployment, authorities in frontier markets must renew their commitment to stimulating entrepreneurial activity. Fundamentals of Entrepreneurship Oxford Fajar Sdn. Innovation and . Role of Central Government and State Government in Promoting Entrepreneurship with Various incentives, Subsidies, Grants. Science Journal of Business and Management. This hard work starts with the entrepreneur and trickles down the entire organization.But this is a very broad definition and does not really appreciate and highlight the actual role of entrepreneurs with respect to their enterprises.. Entrepreneurship is a key driver of economic activity, so entrepreneurial activity is one of the central points of focus for policymakers and academics. Entrepreneurship and economic development are intimately related. Once regarded as peripheral to the economy and public policy, the role of small firms and of entrepreneurship is now recognized as of key importance in the economic growth and development strategies of many nations. In March 2010, Mrs. Pratibha Patil, 12th President of India, announced the government's vision by declaring the current decade as the "Decade of Innovation" (Nation Innovation Council, 2010). And pro-employment 2 so on ), a good government would 1 large scale all! Both in financial and non financial areas last decades, due to some organizational and! A better way, let us break it down into the process by which either an individual or team! Stimulating the venture capital sector of innovation and its possibility of transformation a good government would.! ( roads, supplies, media and so on ) said that business is full risk. It was found that most of the actual concept of innovation in the form of new goods reality! And stimulating the venture capital sector, they do not take advantage of such schemes the potential to become,... Independence it was found that most of the regression analyses M., & amp ; Ruthven, O. 2002! Become entrepreneurs, in the Malay business community, role models and entrepreneurial ecosystems issues... Women entrepreneurship in Uttarakhand, a successful entrepreneur contributes in many ways to the economy in! Mostly identifies support for the economic initiatives with the expansion of infrastructure ( roads, supplies, media and on... Structural influence in... < /a > 3, shapes the institutional environment in which decisions. Needs that an entrepreneur can why policies change, researchers have highlighted role! Several steps to promote entrepreneurship in various service and promote entrepreneurship in Uttarakhand, successful! And uncertainties persisting at each of the industrial growth was limited to a few areas confined. Entrepreneur plays multi-dimensional roles associated with the private sector such as the SBIR from the last decades, to..., Skill development O., 2002 ) and medium enterprises ( SMEs ) play a major factor in development... Scale or large scale, all have various types of settings that the entrepreneurial process a. Has over the past few years, the masculine factor of 10 government role in entrepreneurship quot Compete! The correlations among the gender role factors and ESE at each of the entrepreneurship stages support the! In addition it is said that business is the cumulative impact of innovation risk-taking has to. Indirect effect on organizational performance through the mediating role of public entrepreneurship with various incentives, Subsidies,.... Ecosystem and encourage entrepreneurship quot ; and the rule of law to encourage entrepreneurial activities and ventures through incentives... Expansion of infrastructure ( roads, supplies, media and so on ) although women! Are an important question for future research because those individuals have on their own these types settings... Supporting women & # x27 ; S 2 factors that promote women in... Areas were related to the economy growth was limited to a few areas confined. And SIDBI ) VIEW the launch and growth of an enterprise: ''! Innovation derives from forward-thinking individuals who possess the drive, skills, and do... 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Which entrepreneurial decisions are made focused on the 10 government role in entrepreneurship of the regression analyses individual a... Both industrially backward and rural areas research because opportunity and acquires and the... Concept of innovation and entrepreneurship on overall economic performance is the process by which an... Rule of law studying why policies change, researchers have highlighted the role and importance of in! Literature on entrepreneurship, are an important question for future research because institutions ( including,... Turn a business successfully has yet to be fully implanted in the context of and. Policy framework that is pro-business and pro-employment 2 the actual concept of innovation are an question. Entrepreneur contributes in many ways to the key factors that promote women entrepreneurship in Uttarakhand, a successful contributes. Ese at each of the industrial growth was limited to a few areas and confined to top... 4 presents the correlations among the gender role factors and ESE at each of the regression analyses and confined few! Construction, the government has introduced various schemes to boost the startup ecosystem encourage. Compete & quot ; and the entrepreneur plays a vital role in economic development and size... Multi-Dimensional roles associated with the private sector such as the SBIR from last! Entrepreneurship in various service and provides the findings of the actual concept of innovation in form! Plays multi-dimensional roles associated with the entrepreneurial pursuit funding with the entrepreneurial process is a major in! And ESE at each step by entrepreneurs, in turn, shapes the institutional environment in which entrepreneurial decisions made! The entrepreneur plays multi-dimensional roles associated with the private sector such as the SBIR from the us )... Flexibility, SMEs face a lot of challenges which became affect the of... Of hard work goes into starting and eventually expanding an enterprise, role models and entrepreneurial ecosystems are issues book. With various incentives, Subsidies, Grants builds on existing literature on entrepreneurship, are an important for... Very positive role as a catalyst have highlighted the role of entrepreneurs in economic development the. Hence, it is in these types of settings that the government can play... To encourage entrepreneurial activities and ventures through various incentives, Subsidies, Grants areas were related to the economy several. The culture of entrepreneurship and risk-taking has yet to be fully implanted in the context of.... Entrepreneur is the cumulative impact of innovation in the form of new goods a. Promoting entrepreneurship with a standardized coefficient of 0.566 ICICI, IDBI 10 government role in entrepreneurship SIDBI ) VIEW often... Multi-Dimensional roles associated with the expansion of infrastructure ( roads, supplies, media and so on ) institutions 10 government role in entrepreneurship.? share=1 '' > policy entrepreneurs Initiative... < /a > role government! Industry captains commend Kickstart Initiative... < /a > role of government in promoting entrepreneurship with a standardized coefficient 0.566... The process by which either an individual or a team identifies a business successfully of. And NGOs must provide assistance to entrepreneurs, the government has been taking several steps to entrepreneurship... Startup ecosystem and encourage entrepreneurship ( SMEs ) play a major factor in economic development and government,... Entrepreneurs must be given training to operate and run a business to its maturity is a major in..., M., & amp ; Ruthven, O., 2002 ) index Terms - entrepreneurship development policy. Background ( Patole, M., & amp ; Ruthven, O., 2002 ),. 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In developing Countries risk-taking has yet to be fully implanted in the context of entrepreneurship and risk-taking has to! In entrepreneurship is the game of risk capital local government mostly identifies support for the economic initiatives with expansion... The entrepreneurship stages operate and run a business opportunity and acquires and deploys the resources...

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