ENTREPRENEURSHIP AND ECONOMIC DEVELOPMENT- AN EMPIRICAL APPROACH

Author (s) : A.Vaishnavi, S.Shobana, M.Gokul Priya, V.Shruthi

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Abstract :
Entrepreneurship plays a premium mobile role in industrial development. The industrially developed countries like USA. Germany and Japan bear the evidence that an economy is an effect for which entrepreneurship is the cause. Entrepreneurship has now emerged as a profession. That like other profession, it can also be developed and fostered through specific educational and training programmers is well evidence by behavioral studies and experiments in the fact, in this lies the rationale and realization why several entrepreneurship development institutes and centers have sprung up all over the country in the recent years. The shortage of job opportunities in the formal sector is one of the major problems faced by the graduates in the country Because of this shortage entrepreneurship was viewed with great interest and encouraged ever since in a many economies, more so in developing and under developed economics. Internationally entrepreneurship it deemed to be of vital importance for economic development and growth desperate desire for growth among the developing countries having placed the spotlight squarely on entrepreneurship as a major factor in the success of capitalist economies. If we want entrepreneurship to be considered as a potential career or job option, we have to raise the level of awareness of entrepreneurial qualities already present the society in general and the students in particular. The third world policy makers are especially interested in entrepreneurship and its noticeable economic impact on developing societies they view entrepreneurship, small business venturing and job creation as a counterbalancing high unemployment, slow economic growth and high birth rates prevailing in many third world economies. Entrepreneurship is currently fashionable in many developing countries. It is a golden age of entrepreneurship. Present day of entrepreneurs have the skills and funding that entrepreneur of the past decades only dreamt about. Just as important, becoming an entrepreneur has become an acceptable alternative to working for a corporation.

Keywords : Economic Development, Empirical Approach

Conference Date : 13/11/2020

Pages : 92

Paper ID : 20092