Importance of Entrepreneurship Development

Let’s discuss the importance of entrepreneurship development in Bangladesh. Bangladesh is confronted with severe unemployment and underemployment problems. The problems are becoming worse day by day with the increasing growth of the unemployed population in the country. The worst sufferers are the educated and half-educated youths.

It is the responsibility of the government and society to provide gainful employment opportunities for the youths and use their energy for predictive purposes.

However, the promotion and development of microenterprises and labor-intensive small and medium industries could be an important strategy to overcome these problems.

Bangladesh has immense potential in terms of resource endowments, both material and human for the development of industries.

Importance of entrepreneurship development

1. Decrease unemployment: The development of entrepreneurship can reduce unemployment dramatically. Because if entrepreneurship develops in any country it should need a large number of workers for every stage. So, it can reduce unemployment.

2. Reduce capitalization: This is an era of capitalization. And capitalization has risen because of some massive entrepreneurs. But if we can develop entrepreneurship in large volumes it can create competition in the market and reduce capitalization.

3. The economic balance of the country: It can bring the economic balance of a country because when a business entrepreneur starts its operation it involves many people in economic condition.

Importance of Entrepreneurship Development
Importance of Entrepreneurship Development

4. The local resource can be used: Entrepreneurship development ensures the use of local resources. And it increases local cash follow.

5. Rise per-capita income: An entrepreneur may arrange employment for many unemployed which reduces the unemployment problem as well as rises per capita income.

6. Improve the living standard: As I said in the previous paragraph a successful entrepreneur can manage some employment so, it improves the living standard.

7. Economic Independence: Entrepreneurship gives a man economic independence which is really very important.

8. Overall Development: Economic development is overall development and entrepreneurship development brings us financial development.

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