Why Entrepreneurship Is Important to the Economy

Entrepreneurs are frequently thought of as national assets to be cultivated, motivated, and remunerated to the greatest possible extent. Great entrepreneurs have the ability to change the way we live and work. If successful, their innovations may improve standards of living, and in addition to creating wealth with entrepreneurial ventures, they also create jobs and contribute to a growing economy.

Entrepreneurship is thus important for a number of reasons, from promoting social change to driving innovation.