Entrepreneurs perceive and pursue new opportunities. What distinguishes entrepreneurial ventures from other business is that they are based on a perceived new opportunity which could arise anywhere in the value chain, and in any industry. Flexibility, focus and individual initiative in an enterprise provide the required impetus for growth. Increasingly, the impact of entrepreneurship on economic growth is being felt in many parts of the world, and not all of it a result of large corporations or their innovative output. If this output is expressed as a per-employee rate, small businesses come very close and even exceed large firms in some industries, like technology, process-control instrumentation and biotechnology...
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