Entrepreneurship Outline Example | Topics and Well Written Essays - 1500 words

Entrepreneurship - Outline Example The intention of this study is an entrepreneurship as one of the major activities for fostering economic growth. Entrepreneurs are essential instigators for renovation in an economy, and entrepreneurship accelerates the growth for new economic and industrial prospects and effectual resource utilization. The efficacy of an economy is improved when entrepreneurs perform to simplify trade between organizations or countries with different inclinations and resource endowments. Economic progress takes place when entrepreneurs accelerate the generation, distribution and application of pioneering thoughts. Entrepreneurship not only takes advantage of new business prospects by proper distribution of resources, but it also pursues new potentials for resource utilization and thus re-draws the limitations of economic movement. As a result, entrepreneurial activities help to reduce the unemployment rate and poverty. The association between entrepreneurship and employment is covered with uncertain ty. It can be stated that lower degree of entrepreneurship can result in low economic development which in turn can impact on the level of employment rate. Entrepreneurs can create new businesses and organizations, which generate job opportunities, therefore reducing the unemployment rate. On the other hand, new businesses and organizations are considered of having low rate of survival and growth due to huge competition in the market, thus this fact argues that entrepreneurship can lead to unemployment. ... Research Objectives The study will have the following objectives: To measure the impact of entrepreneurial activities on employment in the UK To discover the relationship between entrepreneurial activities and job creation To know the view of people in the UK towards new innovations and businesses To identify the effect of entrepreneurship in the economic development of the UK Research Question and Hypothesis The study will seek to resolve the following research question: â€Å"Does entrepreneurial activity create an impact on the employment rate in the UK?† In order to resolve the above research question, hypothesis has been developed which can help to understand the relationship between entrepreneurship and employment in the UK. The null hypothesis (H0) will be = â€Å"Entrepreneurial activity increases the employment rate in the UK† The alternate hypothesis (H1) will be = â€Å"Entrepreneurial activity does not increase the employment rate in the UK† The hypot hesis will be tested with Pearson correlation analysis by using statistical data. Background of the Study In present days, relations among new creations, new business proprietorship and economic growth have been acknowledged for substantial consideration from researchers and policy creators. The increasing unemployment rate in several countries along with inadequate economic development has prompted the policy developers to provide higher attention to entrepreneurship and self-employment. Entrepreneurship has been recommended by many researchers as a cure against higher unemployment and slow economic development. Europe and other industrial economies of the world have practiced substantial industrial reforms in last