Governments can support entrepreneurship through a variety of mechanisms, including financial aid, regulatory frameworks, and infrastructure development.
Financial Aid: Many governments offer grants, loans, and tax incentives to encourage new businesses. These financial aids can help mitigate risks associated with starting a new venture. Regulatory Frameworks: A supportive regulatory environment is essential for the growth of startups. Simplifying business registration processes and reducing bureaucratic red tape can make it easier for entrepreneurs to launch their ventures. Infrastructure Development: Governments can also invest in the development of physical and digital infrastructure. For example, creating innovation hubs and tech parks can provide startups with the necessary resources and networking opportunities.