Explain the role of the government in entrepreneurship?

Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
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Explain the role of the government in entrepreneurship?

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Step 1: Define entrepreneurship:

Entrepreneurship is the method involved with distinguishing, making, and chasing after opportunities to begin and work on another business or adventure. It includes people, known as entrepreneurs,  who will go ahead with well-balanced plans of action, consolidate assets, and use their innovativeness and advancement to foster new items, administrations, or plans of action. A business venture isn't restricted to beginning new organizations; they can likewise incorporate exercises inside existing associations focused on advancement and development. Key components of entrepreneurship incorporate perceiving market needs, coordinating assets, taking on monetary and administrative obligations, and pursuing the effective foundation and development of a business or drive. Entrepreneurs play an essential part in driving financial turn of events, work creation, and development in different ventures and areas.

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