Development does not mean only the betterment of existing but it means the overall betterment across the geographical, sectoral and technological scope. Entrepreneurship results in diversification of economic activities by creating employment, business opportunities, stabilising the demand and supply factors as underdeveloped countries caught in the vicious cycle of the demand as well as supply side.
Thus, it helps to overcome from this situation. GOP originates from Industry and services increases. Entrepreneurs through their decisions to divert from the stale sectors and invest in green field sectors, bring a virtual transformation of the economy from underdeveloped to developed status. Thus, we can say entrepreneurship results in increasing the spectrum and scope of economic activities.
