Entrepreneurship and economic development, Essays (university) of Entrepreneurship Development

Download Entrepreneurship and economic development and more Essays (university) Entrepreneurship Development in PDF only on Docsity! Research Proposal “Entrepreneurship and economic development” Part I. Rationale of the research 1.1 Introduction on the Topic Entrepreneurs are playing an important role in economic development around the world. The importance of the entrepreneurship in economic growth is vital. However, in the classical theories of economic development, there is no room for entrepreneurship, but nowadays crucial role played by the entrepreneurs in the development of the Western countries which has made the people of underdeveloped countries to care and work hard and to give too much conscious of the importance of entrepreneurship for economic growth. Nowadays, people have started to comprehend that for accomplishing and attaining the goal of economic growth, it is crucial to increase entrepreneurship both quantitatively and qualitatively in the country. It is only enthusiastic and active entrepreneurs who 0 0 1 Fcompletely explore the potenti alities of the country’s obtainable capital, labor, resource and technology. The role of entrepreneurship in economic growth differs from economy to economy regarding on its responsiveness of the political system material resources and industrial climate. The entrepreneurs participate more in promising chance conditions than in the economies with fairly less promising chance conditions. In addition, Entrepreneurs are essential to economic development. Since entrepreneurs are self-employed and create new businesses, they stimulate the local economy in many ways. Their new dealings generate job opportunities that were not there before, which declines the unemployment rate and puts more money into flow. Manufacturing new goods and services also helps excite the flow of money. These smaller businesses keep capital spread much better than larger establishments. Entrepreneurial efforts encourage local development, and the cooperative dynamism of entrepreneurs has an effect on the economy for the nation. Entrepreneurs also contribute to local and national happiness due to adding jobs and money to the economy. Finally, the act of starting something new has a significant impact on their own happiness and self-esteem. This positively impacts economic development, since people who are happy are more likely to go out and spend money. What are the Relationships and impacts of Entrepreneurship and Economic Development? 1.3.2 Research Objectives: Impacts of encouragement and releasing people's entrepreneurial energies in order to achieve a greater economic prosperity. Impacts of enhancement the innovativeness and responsiveness of businesses, to boost productivity and to improve cost structures and trade performance. Part II literature review 2.1 Policy makers Policy makers often see entrepreneurship as a key instrument for improving economic development, mainly in regions where entrepreneurial activity was once energetic and is now reclining. Since entrepreneurship provides relatively noncontroversial way to improving per capita income growth, increase the proverbial pie and creating jobs, so it’s a good solution to policy makers. Therefore most of the government officials often search for instruments to boost entrepreneurial energy among the peoples in their region, whether those mechanisms are financing subsidies, tax policies, or other tools. 2.2 Economic Growth Also, economic development is the process whereby the real capita revenue of a country growths over a period of time. Starting changes and establishing the structure of Business is involved in economic development. The changes are escorted by increased output and growth, which tolerates more wealth to be separated by the various participants. Entrepreneurial activity can contribute up to 70 % of the difference in the rates of economic growth. There is no country that has experience high level of entrepreneurial activity with low level of economic growth. Part III Methodology This research is based on qualitative research which is the type of research people use to gain insight into a problem. In some cases, qualitative research may be conducted through interviews, such as a recession experience, such as listening to someone recount something that happened in the past or other event. Subjects for study: 3.1.1 Qualitative Interviews • Semi-structured interview • Unstructured Interview • Qualitative Interview • Focus group The population of this research would be: • Economists • Entrepreneurs • Business owners 3.1.2 Sampling Technique for Qualitative Interviews One way to get as much as data I used snowball sampling to do so. Usually snowball sampling Identify potential subjects in the population. Often, only one or two subjects can be found initially. Then, ask those subjects to recruit Timeframe Week 1 2 3 4 5 6 7 8 9 10 11 12 Supervisor meeting submission of proposal Data Collection Literature review Dana Analysis Review the project Finalizing the project submission of project References Shane, Scott. Government-University Partnerships to Enhance Economic Development Through Entrepreneurship. 1st ed. Cheltenham: Edward Elgar, 2005. Page 16. Stokes, David, Nicholas Wilson, and Martha Mador. Entrepreneurship. 1st ed. Australia: South-Western Cengage Learning, 2010. Print. Henry, Colette. Entrepreneurship In The Creative Industries. 1st ed. Cheltenham, UK: Edward Elgar, 2007. Print.