Entrepreneurs are someone who founds and launches a small business while recognizing the risks and rewards of doing so rather than working as a 'employee. They are generally seen as innovators, a source of new ideas, goods and services. Entrepreneurs play an important role in an economy. They are equipped with the skills and dynamism to predict current and future needs and bring new ideas to market. Say no to plagiarism. Get a tailor-made essay on “Why violent video games should not be banned”? Get an original essay So, how do entrepreneurs contribute to the economic development of a country? First, entrepreneurs must invest in the products and services that people need. To keep pace with the global economy, they must invest. They generate new businesses in response to unmet needs and demands in the market. This creates an opportunity to provide a product or service that does not currently exist or is not otherwise available. An entrepreneur's contribution will affect economic progress. Any entrepreneur will invest in the products and services that people need. Thanks to his investment, he will in turn ensure a better life for the population. More goods and services will be available to them. Every decision a company makes is an investment, and managers can divide these investments into two categories: assets and activities. For example, entrepreneurs can invest in capital capable of increasing labor productivity. This in turn provides employment opportunities to people. Higher quality equipment directly makes individuals, businesses and countries more productively efficient. Increased productive efficiency leads to an increase in the standard of living and therefore serves the objective of economic growth. Another way an entrepreneur could contribute to the economy is through employment. An entrepreneur, by creating various businesses and establishments, generates jobs in the economy. To continue to survive, people must find employment. This is an important contribution an employer can make to provide an income for an employee who is able to support themselves. For example, new businesses must hire employees. Entrepreneurs create jobs and these economic opportunities uplift and support communities by increasing the quality of life and overall standard of living. Additionally, the 21st century offers new technologies that promote efficiency. What people need is the ability to turn their ideas into new products and services, which is at the heart of the prosperity of any developed country. The creation of new technologies and their creative applications is driven by the determination of economic growth. Periods of rapid innovation have always been accompanied by periods of strong economic growth. The greatest natural resource of all, the human mind, drives innovation. An educated population and an environment conducive to collaborative work are necessary to create innovative products. In addition to being good for business, education increases the creativity and quality of life of the workforce. Usually, when an entrepreneur starts to innovate, there is also competition. Essentially, there is a positive feedback loop between innovation, entrepreneurship and economic development. New and growing businesses represent the main sources of job creation and innovative activities in an economy, two factors which translate into.