Entrepreneurship plays a crucial role in enhancing livelihoods in various ways:
Job Creation: Entrepreneurs create new employment opportunities for themselves and others. This can help reduce unemployment and improve the standard of living. Economic Growth: New businesses contribute to the economy by generating goods and services, which can boost GDP and overall economic health. Innovation: Entrepreneurs often introduce new products and services that can improve quality of life and meet previously unmet needs. Community Development: Entrepreneurial ventures can lead to the development of local communities by providing essential services and supporting local supply chains.