The Role of Entrepreneurship Activity in Economic Development
22nd International Scientific Conference "Economic Science for Rural Development 2021": Proceedings of the International Scientific Conference 2021
Rashmi Jaymin Sanchaniya, Ineta Geipele

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.


Keywords
entrepreneurship, entrepreneurial activity, economic development, economic growth, role of entrepreneurship
DOI
10.22616/ESRD.2021.55.039
Hyperlink
http://www.esaf.llu.lv/sites/esaf/files/files/lapas/Krajums_Nr_55_2021_07_14.pdf

Sanchaniya, R., Geipele, I. The Role of Entrepreneurship Activity in Economic Development. In: 22nd International Scientific Conference "Economic Science for Rural Development 2021": Proceedings of the International Scientific Conference, Latvia, Jelgava, 11-14 May, 2021. Jelgava: Latvia University of Life Sciences and Technologies, 2021, pp.388-395. e-ISBN 978-9984-48-382-5. Available from: doi:10.22616/ESRD.2021.55.039

Publication language
English (en)
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