Entrepreneurship has over the years been hailed as one of the most effective strategies of spurring

economic growth in national economies (cite). Policy makers’ rationale behind entrepreneurship as a
driver for economic grow is based on the idea that the participation of the private sector in
entrepreneurial activity generates job opportunities and promote international competitiveness (Smith,
2010). Entrepreneurship is defined as actions that involve the finding and utilizing opportunities to field
new products and services, market organization strategies, procedures and resources through methods
that had not existed before (Mbhele, 2012). In an ever-increasingly globalizing world characterized by
porous borders and a global market economy, new market opportunities are emerging in places where
they did not previously exist. As a result, governments and businesses are looking into ways of
capitalizing on the new opportunities for economic gain (Hirsch, 2010). At times, goverments undertake
measures to initiate enterepreneue Entrepreneurship exists in many forms at the domestic and
international level. While entrepreneurship has a fair share if

References

Mbhele, T. P. (2012). The study of venture capital finance and investment behaviour in small and
medium-sized enterprises. South African Journal of Economic and Management Sciences, 15(1), 94-111.

Smith, Daniel (2010) "The Role of Entrepreneurship in Economic Growth," Undergraduate Economic
Review: Vol. 6: Iss. 1, Article 7. Available at: http://digitalcommons.iwu.edu/uer/vol6/iss1/7

Hisrich, R. D. (2010). International entrepreneurship.