Ways by which entrepreneur can promote the economic development of a country :
(i) A capable entrepreneur can assess the risk in advance and plan accordingly. He is the one who brings all the factors of production to one platform, which can promote economic development of a country.
(ii) The industrial health of a nation depends on the level of entrepreneurship existing in it, economic development of the economy depends on entrepreneurial talent existing in the nation.
(iii) Entrepreneurs set up new businesses and industrial units in less developed and backward areas. By this way they play an essential role in regional development.
(iv) By harnessing the entrepreneurial talent a society comes out of traditional lethargy to modern industrial culture.
(v) What to produce, how much to produce and how efficiently it is to be produced depends on the class of entrepreneur who commands it. That is why entrepreneur can promote the economic development of a country.