Role of Entrepreneurship and small business in National Development.

Nepal is the least developed country but it is rich in terms of natural resources. It has lots of resources that could be sufficient for the nation building if utilized properly. Outsourcing of the human resource is the major problem of Nepal. Lack of entrepreneurship Nepal has become the poorest country although it has lots of resources. Nepal is wasting its resources because there is not much human resource. There are not much entrepreneurs that they utilize these resources and could be benefited.
Entrepreneurship is the process of new venture. It develops new innovative ideas. Entrepreneurs are able to find out the hidden opportunities and they identify these opportunities. With the help of entrepreneurs we can enter into the new market, we can make new products; introduce new services in the market using the local resources. It generates employment for the local people. Entrepreneur helps to formulate the capital of the nation.

In developed country small businesses is defined with the help of numbers of workers. It is a type of business where there are less than one hundred workers. But in Developing countries small business is defined on the basis of capital invested on the business. A business that has invested less than Rs.30 million as fixed capital is known as small business. It has own independent management .Ownership is closely held in this business. It uses the local resources and creates employment for the local people. Small business has small size limited resources and performs managerial function by themselves.
Contribution of Entrepreneurship and small business
It encourages the innovation: Entrepreneurs works very hard, they are known as risk bearers, farsighted, and good leaders. They mainly focus on the new ideas. New innovation.
They complement large type of business: small types of businesses are responsible for providing necessary support for the large scale industry.
Employment creation: entrepreneurships are known as job creators. They create job for themselves also for other people.