Open AccessThe Role of Entrepreneurship Activity in Economic Development
Author(s) -
Rashmi Jaymin Sanchaniya,
Ineta Geipele
Publication year - 2021
Publication title -
proceedings of the international scientific conference "economic science for rural development"/economic science for rural development
Language(s) - English
Resource type - Conference proceedings
eISSN - 1691-3086
pISSN - 1691-3078
DOI - 10.22616/esrd.2021.55.039
Subject(s) - entrepreneurship , position (finance) , innovation economics , business , economic growth , economics , development economics , economic system , finance
The paper presents a summary of the literature on the significance and importance of entrepreneurship to economic growth and development. Entrepreneurship has been shown to have been seen to lead to an overall optimistic development in many economic data. There is a general expectation that this inquiry would address the question of whether there is a correlation between the entrepreneurial enterprise and economic growth. In countries with various economic groups, different citizens are classed due to how much wealth they have. The data used in this paper were extracted from the World Bank, the World Entrepreneurship Monitor (WEM) over the last five years, and the World Economic Forum has a Database of Worldwide businesses. However, in low-middle- and middle-income nations, growth-oriented entrepreneurship is associated with economic progress. Analysis of various countries and different levels of economic growth, so it can be claimed that entrepreneurship serves a special position.