commerceNo Comments

Entrepreneurship is the dynamic process of creating incremental wealth and innovating things of value that have a bearing on the welfare of an entrepreneur. It provides civilization with an enormous amount of goods and services and enhances the growth of social welfare. The man behind the entrepreneurship is an action-oriented and highly motivated individual who is ready to achieve goals. The following is the importance of the entrepreneurship to the community:-

1.Growth of infrastructure facilities: Entrepreneurs help in the growth of infrastructural facilities such as roads, bridges, buildings, factories, etc. which are the cornerstones of economic growth. Establishment of factories and industries in a particular locality presupposes the growth of infrastructural facilities.

2.Export handcraft item: Entrepreneurs play a significant role in producing and exporting handicraft items. They generally use the local traditional skill, traditional technology, local knowledge and experience for producing traditional art and craft and handicraft items.

3.Creation of employment: The role of entrepreneurs in establishing micro, small and medium enterprises is perceived as a powerful medium to address several socio-economic issues – the key issue being the generation of employment opportunities. In a developing economy like Tanzania, where labor supply is higher than demand, the role of entrepreneurs is well much significant. Entrepreneurial development gives rise to economic independence through self-employment.

4.Entrepreneurship allows for maximum utilization of natural resources. Entrepreneurship promotes environmental friendly technologies like biogas digesters, energy saving stoves which use less firewood and also save time and money for the user, solar-powered LED lanterns,

Be the first to post a comment.

Add a comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

error: Content is protected !!