TITLE:
Entrepreneurship, Job Creation, Income Empowerment and Poverty Reduction in Low-Income Economies
AUTHORS:
Deodat E. Adenutsi
KEYWORDS:
Entrepreneurship, Job Creation, Income, Poverty, Low-Income Economies
JOURNAL NAME:
Theoretical Economics Letters,
Vol.13 No.6,
December
22,
2023
ABSTRACT: The fundamental objective of
this paper is to provide an insight into the role of entrepreneurship in job
creation, income generation and empowerment, and poverty reduction in
low-income economies. Having provided a conceptual framework and the
theoretical underpinnings of the linkages of entrepreneurship to job creation,
income empowerment, and poverty reduction from an economic perspective, the
paper develops an entrepreneurship policy-relevant model for breaking the
vicious cycle of poverty which has predominantly characterised low-income
economies. The paper argues that entrepreneurship is the catalyst for economic
growth and development through job creation, income empowerment, and poverty
reduction in low-income economies. However, to extend the culture of
entrepreneurial thinking and promote entrepreneurship in an economy,
governments and other relevant institutions must pursue functional policy goals
in this endeavour. Therefore, to create high-income generating job
opportunities and reduce poverty through entrepreneurship, there is a need for policy
measures and intervention programmes that are critical and consistent with the
objective of welfare improvements.