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How does entrepreneurship affect the economy?


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Entrepreneurship and small businesses are like the blood of a country's economy.

1. Entrepreneurs pay taxes - income to budget.

2. Entrepreneurs generate jobs. There is a world statistic of jobs generated by entrepreneurs (according to GEM annual report):
38.6% - USA
21% - Asia and Oceania
18.5% - Europe
18% - Latin America
17% - Africa

3. Entrepreneurs actively participate in developing industries and sectors, and bring innovations:
over 50% - retail/wholesale
50% -  information and communications, financial, professional and other services
over 8% - manufacturing
about 8% - information and communication technology

4. For big companies, some small businesses and entrepreneurs are important partners and suppliers.

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