The Role of Entreprenurship towards Economic Sustainability

Abstract

Entrepreneurship is the means through which goods and services are provided to the consumers. Goods and services have been provided in the old-fashioned way without technological update as to improve patronage as well as the economy. There had been no spontaneous response to changes in environment, and subsequent non adoption of new methods of production which is militating against the economy. At this juncture, this paper discusses the roles entrepreneurship plays towards the economic sustainability through provision of improved quality products or goods/services for improved wellbeing and economy, promotion of innovation for increased patronage of goods and services and increased economy, new levels lifestyle and new goods and products promotion for higher economy. This paper concludes that entrepreneurship plays very important role in economic sustainability since it adds value to goods or products/services, responds to changes in environment by producing goods in the newest and better ways that brings about goal- oriented activities that in turn brings about target, results and achievements that are geared towards economic sustainability. Amongst the recommendations is that sentiment and favouritism should be avoided in the disbursement of the loan and should be based on merit to ensure that those with the managerial ability should be highly encouraged to enable break even and not failure based on managerial inability and acumen to perform.

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