New goods and services provided by entrepreneurs create new jobs that stimulate the economy by
stimulating businesses associated with sectors that support the new entrepreneurial venture, thereby
improving economic development that directly affects the members of the community in which the entrepreneurial venture is located.
Improving national income
Entrepreneurship contributes to the opening of a new wealth base that supports States’ economic
development, because the sequential impact of increased employment and higher wages essentially
improves the level of national income, which translates into tax revenues invested in the development of all different sectors of the struggling State.
Having in a society helps it develop and change better, because it simply helps it to get
rid of old systems and technologies and replace them with new ones that save time, money and effort, to ensure a better focus on work and productivity for economic growth
promote research and development
Entrepreneurship relies on the innovation and development of goods and services, thus contributing to
the promotion of research and development at all levels to achieve the best successful innovations that
have an effective productive contribution. It is worth noting that, while it is important to produce new business ideas, it is necessary to develop ideas to develop a successful business structure.
Increasing the popularity of innovative ideas
Many are afraid to think outside the box, but entrepreneurs have been found to break the box’s
stereotype by hammering their innovative ideas. When people with entrepreneurial instincts top the
screen, they will take over the entire world and change their face with their unusual ideas and business
plans, increasing the chances of creating dedicated platforms to discover the best and most efficient entrepreneurial projects, turning them into reality.
types of entrepreneurship
Entrepreneurship includes several types, as shown in the following.
This type of constitutes 44% of all business activities of a country such as the United
States of America, and the importance of this type is that it has broader prospects and greater facilities since the legal status of their companies integrates small and large entrepreneurship.
Integrating entrepreneurship and investment, the entrepreneur seeks to focus his work on providing financial support to new entrepreneurial projects.
This type focuses on creating new opportunities and innovating different ideas in the field of modern
technology, which involve developing old methods and accomplishing traditional tasks more simplistically and technically.
This type depends on the application of entrepreneurship within a company or organization based
primarily, the internal entrepreneur is an employee with innovative proactive self-motivation.
This type tends to create fast jobs with low start-up costs, by taking advantage of the rapid pace of changing markets.