Business-related is the process of creating a new type of organization that has not previously been established, or developing an existing enterprise with its work and harnessing the opportunities available to develop and advance this facility in an innovative and innovative manner, and the entrepreneur in the entrepreneurship process takes into account the extent of the risks that he may face and also highlights on the returns that the project may bring.
Characteristics of entrepreneurship: –
- It contributes to raising the financial level of the entrepreneur and workers in his organization and the development of the national economy.
- Giving the workforce a sense of job satisfaction by providing job opportunities.
- Continuously developing and modernizing existing industries, focusing in particular on those in remote and rural areas.
- Continuous support for carrying out, encouraging and relying on the local industry, and exporting abroad instead of importing.
- Raising the level of national income that leads to raising the level of economic growth.
- Creating an honest competitive environment among existing organizations, thus creating the highest quality products.
- Limiting immigration to those with expertise and talents by providing job opportunities suitable for their abilities and educational levels.
The role of entrepreneurs: –
- Creating opportunities to satisfy the needs of individuals by establishing new markets, and they innovate in promoting their products in ways.
- The constant aspiration to uncover and explore sources for resources, as they create sources and do not follow in the footsteps of others by relying only on the traditional resources available in the hands of everyone alike.
- Exploiting capital and using it to create new production elements or new capital resources, and it is the responsibility of the entrepreneur to determine the elements of production, so he resorts to innovation, innovation and thus differentiation.
- The introduction of technology and modern technologies in the production process and all its stages, so entrepreneurs take advantage of any opportunity available to them and benefit from it by transforming it into gains.
- Creating new job opportunities. Private companies provide job opportunities more frequently than government departments and their organizations.
The positive impact of entrepreneurship at the level of self-enterprises or at the level of organizations sometimes coincides with the existence of a set of negative effects that the entrepreneurial business imposes on the economic reality in specific circumstances. The increase in entrepreneurship may lead to the presence of some unfair practices in the market, as well as the random entrepreneurial environment is a fertile environment for cases of financial corruption, and the existence of individual entrepreneurship contributes to creating financial gaps in societies due to the disparity in income in society between one person and another, and all of these factors may hinder economic development and cause an imbalance in the economic system as a whole.