The Impact Of Community Entrepreneurship In The Economy

By Paulette Short


Poor policies and lack of proper planning techniques are the cause of the world economic problems. The classical economists opted that the market forces are capable of solving the market problems. However this has not been the case in the long run as was experienced in the late nineteen thirties. The overall impact of this is the emergence of high rate of inflation and unemployment which give rise to extreme poverty in the long run. To contain these, a good economic project known as community entrepreneurship has been rolled out.

This type of entrepreneurship involves the some strategic business planning, market analysis and projection as well as the marketing techniques. The students are therefore equipped with the basic skills and expertise that are helpful in the community growth and development.

On their graduation or completion, the students are given the task of practicing what they have learnt so far to ensure that actually that which was initially intended for the whole training. Training is good and only beneficial when the skills and expertise is put into practice.

The training has two major objectives. Training equips the students with the knowledge concerning the social responsibility in the society. It also engages the minds of the students on the needs and the skills for achieving economic growth and development. In addition to the first two objectives, by engaging the students who mainly are youth, the issues of insecurity are to some extent addressed.

This is done to enhance peaceful coexistence in the market. The community development and growth is usually long term in nature. It therefore requires a comprehensive growth strategy and projects that will oversee the achievement of growth in the long run.

Some of the issues addressed in the plan is the provision of education and other social and economic amenities. Through education, students from the poor backgrounds get the opportunity to further their studies and compete with their counterparts from the wealthy families. They are therefore able to acquire knowledge which is helpful in the long run.

Another important issue being looked during the training is the development and growth of the economy within the community. This usually involves the aspect of planning of the long term strategies and activities that will eventually encourage economic growth.

With the economic recession currently experienced in most common parts of the world, many societies have less developed leading to high rate of poverty. Poverty is a major threat to social security and as well lowers the level of living standard in the society. Economic growth is therefore helpful to avoid the contingencies that might arise in response to poverty.

The community entrepreneurship is very important and has helped various communities or local societies achieve the long turn development and growth of economy. When every labor is employed in the market, there is high production of consumer goods. This leads to economic stability and growth.




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