Contribution of Entrepreneurship to National Development

Entrepreneurship is the process that creates people (entrepreneurs) who contribute to economic development in various ways. The contributions are made through:

  1. Stimulating indigenous entrepreneurship and technological development.
  2. Creating jobs for themselves and other people
  3. creating wealth and distributing income
  4. Utilising locally available resources
  5. Dispersal and diversification of economic activities and mobilisation of savings.
  6. Promotion of entrepreneurial culture i.e. they become models to be imitated by potential entrepreneurs because of successful images already potrayed by existing entrepreneurs.
  7. Increasing regional business activities through the export of manufactured goods.
  8. Promotion of indigenous/local technology e.g. use of jua kali technology.
  9. Raising the economic productivity level.
  10. Narrowing the “missing middle gap”

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