Role of Entrepreneurs in economic development

 The role of Entrepreneurs is very important in economic development is very important. All developed countries maintain their development due to the growth of Entrepreneurs in concern country whereas many countries are undeveloped due to the growth rate of Entrepreneurs is less in such concern country. The main role of Entrepreneurs are as below-

1.It promotes capital formation by mobilizing the idle savings of common man.

2. It generates employment so people provide their best knowledge, talent, skill, wisdom for the development of country.

3.It makes balance regional development inside the country so less law and order problem arise in concern country.

4. It reduces the concentration of economic power  in few states or hands.

5.It distributes wealth among employees after getting the profit so money cycle is proper inside the country.

6.It also helps to increase GDP of its concern country.

7.It increases the living standard of people by its product or service.

8.It develops community by its product or service because its product or service is available at cheaper price of competitior. 

9.It increases the exports of country because its product or service possess cent percent international features.

10. It creates new technology that makes production fast, smooth so per unit cost of product decreases.

11.It creates new Enterprises inside country so the environment of business becomes positive and progressive.

12.It changes the working way working style of business inside the country because it implements innovative idea in its business.

13.It joins Science and business because it develops technology and use it in the function of business.

So we can say that Entrepreneurs are the leaders who innovate idea and use idea in the performing the function of business by innovative way and contribute their best for the economic development of country.