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YARDSTICK INTERNATIONAL COLLEGE

ONLINE PROGRAM
ENTERPRENEURSHIP AND ENTERPRISE
DEVELOPMENT
ASSIGNMENT ONE

Submitted by - ABEL DANIEL (ID MBAO/5206/15A)

Submitted to- Instructor DANIEL (Ass. Prof)

July, 2023
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Title: "Promoting Entrepreneurship and Enterprise Development: A Critical Review of Strategies and
Implications"

Introduction:

The article under review, "Promoting Entrepreneurship and Enterprise Development: A Critical
Review of Strategies and Implications," explores the various approaches and their consequences in
fostering entrepreneurship and enterprise development. The authors present a comprehensive
analysis of the existing literature and examine the key strategies employed to support entrepreneurs
and promote the growth of enterprises. This review aims to provide insights into the effectiveness
and challenges associated with these strategies, ultimately shedding light on the implications for
policy and practice.

Summary:

The article begins by highlighting the increasing recognition of entrepreneurship as a driver of

economic growth, innovation, and job creation. It discusses the significance of creating an enabling
environment for entrepreneurs and emphasizes the role of government, educational institutions, and
support organizations in fostering entrepreneurship.

The review identifies several strategies commonly employed to promote entrepreneurship and
enterprise development. These include access to finance, business incubation and accelerators,
entrepreneurship education and training, networking and mentorship programs, and regulatory
reforms. The authors critically evaluate the impact of these strategies and their implications for
entrepreneurial success.

The discussion focuses on the importance of access to finance for entrepreneurs, examining the
effectiveness of traditional banking institutions, venture capital, crowd funding platforms, and
microfinance schemes. It highlights the challenges faced by entrepreneurs in accessing finance, such
as collateral requirements and risk aversion among lenders.
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The review also explores the role of business incubation and accelerators in nurturing entrepreneurial
ventures. It analyzes the benefits and limitations of these programs, emphasizing the importance of
tailored support, mentorship, and access to networks in enhancing entrepreneurial outcomes.

Furthermore, the article addresses the significance of entrepreneurship education and training. It
assesses the impact of formal and informal educational initiatives in equipping entrepreneurs with
the necessary skills and knowledge to navigate the complexities of starting and growing a business.

The authors delve into the role of networking and mentorship programs, highlighting their potential
in providing guidance, support, and access to resources for aspiring and existing entrepreneurs. The
review underscores the importance of effective networking platforms and mentorship relationships
in fostering entrepreneurial success.

Finally, the article evaluates the implications of regulatory reforms on entrepreneurship and
enterprise development. It examines the influence of regulatory frameworks, tax policies, and
bureaucracy on the ease of doing business and entrepreneurial activity. The review emphasizes the
need for streamlined processes, reduced administrative burden, and supportive policies to encourage
entrepreneurial endeavors.
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Conclusion:

In conclusion, "Promoting Entrepreneurship and Enterprise Development: A Critical Review of

Strategies and Implications" offers a comprehensive analysis of strategies employed to foster
entrepreneurship and enterprise development. The review highlights the importance of access to
finance, business incubation and accelerators, entrepreneurship education and training, networking
and mentorship programs, and regulatory reforms. It emphasizes the challenges and implications
associated with each strategy, providing valuable insights for policymakers, educators, and support
organizations aiming to create an enabling environment for entrepreneurs. By understanding the
strengths and limitations of these strategies, stakeholders can devise effective measures to stimulate
entrepreneurial activity and drive economic growth.