THE ROLE OF PRIVATE ENTREPRENEURSHIP AND SMALL BUSINESS IN THE ECONOMY
Keywords:
Private Entrepreneurship, Small Businesses, Economic Growth, Job Creation, Innovation, Local Economies, Financial Barriers, Regulatory Challenges, Government Policy, Social Entrepreneurship.Abstract
This article explores the critical role of private entrepreneurship and small businesses in the economy. It examines how small businesses contribute to economic growth, job creation, innovation, and the development of local communities. The article also highlights the challenges small businesses face, including access to finance, regulatory hurdles, and competition from larger firms. Additionally, it discusses the role of government policies in supporting small businesses, the importance of fostering an entrepreneurial ecosystem, and the future outlook for small businesses in the context of technological advancements and social entrepreneurship. The article concludes by emphasizing the need for policymakers to continue to support small businesses to ensure sustainable and inclusive economic growth.
References
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