Entrepreneurship has emerged from people's permanent desire to meet their own needs, namely the permanent capacity to adapt to the new technological challenges of the markets and to create new elements to meet the needs of the market. Due to their innovative nature, entrepreneurs persist in discovering new sources of documentation to continually improve their activities. For the sustainable development of small businesses, especially in rural areas, the role of entrepreneurs is determined by their knowledge capacities in terms of supply, the cost of their products and services, and the mobilization of financial resources in the development of new businesses or the expansion of existing businesses.
The entrepreneurial spirit and innovation, are essential, although not the only determinants, for the economic development of a region, now the most important thing is to promote this spirit to achieve the advancement of enterprises so that they become companies, and generate a greater flow of resources
I think these two constructs emerge when we have skillful, knowledgeable and hardworking human resource. therefore, human resource is like a foundation of these two constructs.
Regarding this topic, I would like to invite you to read a work of my authorship, put a focus on small productive organizations and the development of small cities.
https://www.researchgate.net/publication/305469605
Thank you Saeid! Certainly the human resource is the basis for entrepreneurship and innovation, but in harmony and in a direct relationship with the material, social and informational resource. All the best!
Thanks for your answer Federico and for the indicated your research paper! Entrepreneurship is indeed very common in the development of small businesses, but we cannot mention successful entrepreneurs like Elon Reeve Musk. All the best!
Yes. Entrepreneurship and innovation development will lead to economic growth not only at the local level but globally as well. Entrepreneurs in any field will rule the world in the future.
Hi, without any doubt it helps. The question is to what extend Entrepreneurship and innovation will help. My thinking is that it depends on the environment surrounding the venture.
For example, in a big city, with technological development, and if the new business is a digital one; the contribution could be exponential.
On the other hand, if the venture is in a rural area, with low connection capabilities, and the business is more physical than digital, the impact would be lower.
No matter, the entrepreneur could research and incorporate some state of the art technology to the venture in order to explode its potential.
I agree with you Ricardo! Entrepreneurs' initiatives depend on many internal as well as external factors! Moreover, urban and rural areas have a direct impact on entrepreneurship as a result of the resources to which entrepreneurs are connected. All the best!
Entrepreneurship in rural areas, especially amongst the poor, is heavily influenced by asymmetry of information. Entrepreneurship in rural areas is more like a social problem than a business problem and therefore information asymmetry takes on greater importance. Agree on importance of capital, true for any entrepreneur anywhere. I would add physical distribution as issue if entrepreneurship is not a digital product/solution. Internet access also important for both information and physical resource access.
I would also make a distinction between small business and sole proprietor entrepreneurs. Small businesses have assets such as shops, restaurants, warehouses and factories. Sole proprietors are digital agents operating as project workers, consultants, Amazon arbitrageurs, YouTube video channel developers, remote digital workers. A craftsman might be in this group also. (Sole proprietor is what many call “gig” economy.)
I think approach and resources may be quite different between small business owner and sole proprietor remote digital worker.
Thank you for your response and opinion Heather. Moreover, the aspect mentioned by you that we must "recognize that not all entrepreneurship focuses on the production of commercial goods and services for individual profit. Some entrepreneurs work very well to advance a social agenda. Their goal is either to improve the situation of disadvantaged people or to change the world. This form of entrepreneurship always generates a form of change through innovation. It can embrace technology, but not always. "These arguments are very welcome and I agree with you, especially when we talk about different forms of entrepreneurship. All the best!
Thank you for your response and your opinion Robert, especially given that you have reached "Entrepreneurship in rural areas", especially in the current context of two directions, namely 1) the social and financial inclusion in rural areas and 2) the development of family farms in the context of safety and food security.
Moreover, the issues that you mentioned about "physical distribution" and "entrepreneur distinction" are very clearly mentioned and appreciated, especially in the global context of digitization and the emergence of fintech services that support entrepreneurship. All the best!
Entrepreneurship and innovation are truly important to economic development.
Innovations leads to Entrepreneurship & commercialization of creative ideas, which is good for sustainable economy if supported and performed at small, medium and micro level as well...
Many special thanks! The relationship between innovation and entrepreneurship is reversible and in fact leads to the "marketing of creative ideas" with an impact on sustainable local development and global impact.
All the best!
The entrepreneurial spirit and innovation, are essential, although not the only determinants, for the economic development of a region, now the most important thing is to promote this spirit to achieve the advancement of enterprises so that they become companies, and generate a greater flow of resources
Totally agree with you Rubén about entrepreneurship and innovation, and not only! All the best!
The entrepreneurial vocation is what should be encouraged, if the development of a territory is desired. Encourage entrepreneurship!
Agree with you Alicia! The "entrepreneurial vocation" must be sustained and encouraged being the heart of small business development, essential in a globalized world in which we must constantly adapt to innovations.
Otilia P. Manta supporting innovation and entrepreneurship as you do, is the way to the development of territories.
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