Entrepreneurial education is considered central to the economic development of nations (Kabongo & Okpara, 2010). Entrepreneurship education has to increase entrepreneurial self-efficacy, self-employment, and risk-taking attitude of the entrepreneur (Cheng & Chan, 2009). Entrepreneurship education creates enormous business opportunities and trains people with innovative enterprise skills to grasp the opportunities for starting new entrepreneurial activities (Cheng & Chan, 2009). Entrepreneurship education is one way of addressing poverty reduction, as there is strong empirical evidence suggesting that economic growth over time is necessary for poverty reduction. Entrepreneurship boosts economic growth, enhances educational attainment and increases the rate of economic growth (Mitra & Abubakar, 2011).
Social entrepreneurship is the attraction of growing attention, money, and talents by entrepreneurs and companies. As the major focus, it aims at developing, funding, and implementing solutions for environmental, cultural, and social issues (Chell, Spence, Perrini, & Harris, 2016). Entrepreneurs engaging in social entrepreneurship have their basic levels of operating as a social cause. The success of social ventures is measured based on the improvements realized in the world rather than profits accumulated. Such organizations attain a successful change in underlying issues in the community through feedback and innovations towards solving the social problem.
However, another aspect believes that entrepreneurship has a positive effect on the creation of job opportunities, which thus decreases unemployment rate. Entrepreneurship is also able to improve an economy through the actual products, services and technology that is introduces into a market. These new ideas boost economic growth. Innovation also creates a sense of competition within the market, which allows for the entrepreneurs involved to become creative under pressure. Competition is necessary in order to encourage either existing, or new entrepreneurs to constantly grow and improve, which once again improves the economic situation.
Description Entrepreneurship is an main part of our economy. In which an singlel person sets, organize and conduct a business taking in fiscal risk. Entrepreneurship education is something to to fix up with knowledge and incitation today energise the youth or minority. It is also enjoin key of our business. It was established on the believes that entrepreneurship is a strong arm and positively related to our future economy.