Entrepreneurship In America Essay

In the early 1950s, entrepreneurship was the purposeful activity of an individual or group of associated individuals, undertaken to initiate, maintain, or aggrandize a profit-oriented business unit for the production or distribution of economic goods and services (Waters, 1952). The activity will come up with pecuniary or other advantage the goal as measure of success, in interaction with the internal situation of the unit itself or with the economic, political, and social circumstances of a period, which allows an appreciable measure of freedom of decision (Waters, 1952).

In the same line, Kuratko and Hodgetts (2004), and Adhikari, Bonney and Miles (2017) explained entrepreneurship as a dynamic process of vision, change and creation, which

In the United States of America, the national government saw small business entities as tools that could address the core socio-economic objectives of decreasing the national unemployment rate and alleviating national poverty (Tolley, 1974). As a result, there have also been efforts to formally establish the Small Business Administration (SBA) as an independent government agency in 1953 (Tolley, 1974) to aid, counsel and protect, to the greatest possible extent, the interest of USA-based small business entities (SBA, 2015).

In the same notion, Nieman and Pretorius (2004) stated that the South African government perceives the promotion of entrepreneurship as another way of solving the most dominating unemployment and poverty problems in South Africa. Entrepreneurship education was employed following the belief of expects in the field of entrepreneurship that contributions of SMMEs due to entrepreneurship can be much higher to the growth of South Africa, if entrepreneurship education is implemented at all school levels (Isaacs, Visser, Fredric & Brijlal,