The role of entrepreneurship in economic development

Abstract

The paper examines the role of entrepreneurship as a strategic factor and an internal source of sustainable economic development. It highlights the importance of entrepreneurship in accelerating economic growth, creating jobs, fostering competition, rational resource use, and driving innovation. Special attention is given to the significance of small and medium-sized enterprises, which form the basis of the middle class and significantly contribute to GDP in developed countries. The study stresses that in Ukraine, the development of entrepreneurship depends on overcoming internal management inefficiencies, creating a transparent business environment, and improving tax and regulatory policies. Strengthening entrepreneurship is considered essential for enhancing national competitiveness and ensuring long-term economic progress.