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Importance of entrepreneurship to a economy
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[QUOTE="KIP254, post: 72884, member: 26881"] 1. Job creation - entrepreneurs create jobs for themselves and others, thus reducing the problem of unemployment in the country. 2. Promotion of entrepreneurial culture - entrepreneurial culture is an environment that prepares the community to take advantage of available business opportunities in the society. Entrepreneurs employ people these workers acquire skills such as management, baking, carpentry and marketing which benefit them later in life. 3. Promotion of technology - involves development of new and innovative ideas. 4. Creates market for goods e.g for produced locally goods. 5. Formation of capital for the economy by paying salaries and wages to the employees. 6. Contributes towards equitable distribution of resources. 7. Saves on imports in that entrepreneurs produce goods and services that are used by local people which reduces importation. 8. Improving people's standards of living by employment and able to acquire various goods and services produced by entrepreneurs. 9. Encourages the use of local resources. [/QUOTE]
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