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Entrepreneurship is important to the economy for a number of reasons, including creating jobs and promoting social change.
When unemployment is high and the economy is contracting or stagnating, dynamic entrepreneurship could help turn the economy around. By developing novel products or increasing competition, new firms can boost demand, which could in turn create new job opportunities and reduce unemployment.
Each study identifies specific productivity improvements enabled by innovation and entrepreneurship, for example as a result of new production technologies, increased competition, or new organizational forms.
This study investigated the effects of entrepreneurship and governance quality on global and regional economic performance, and the moderating influence of governance quality on the entrepreneurship-economic performance nexus. The study used a panel of 109 countries from 2010 to 2022.
Entrepreneurship drives economic dynamism and growth by continuously injecting innovation and energy into the economy. Entrepreneurs introduce new business models, disrupt traditional industries, and foster a culture of innovation that permeates the entire economic landscape.
This paper presents a systematic review of (a) the impact of entrepreneurship on economic, social and environmental welfare and (b) the factors determining this impact.
Entrepreneurship in the US declined in the four decades before the pandemic. Between 1998 and 2014, the share of Gross Domestic Product (GDP) attributed to small businesses fell, while large businesses experienced faster growth. But since 2020, there has been an increase in entrepreneurial activity. According to data from the Small Business ...
Entrepreneurship plays a vital role in the growth of the U.S. economy. 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.
Entrepreneurship is important to economic development. The benefits to society will be greater in economies where entrepreneurs can operate flexibly, develop their ideas, and reap the rewards.
The most frequently cited articles that tested the causality of entrepreneurial activities influencing economic growth were identified. The findings suggest that entrepreneurship has a positive effect on economic growth; the relationship was assessed through meta-regression analysis.