Impact of Entrepreneurship and Social Entrepreneurship on Economic Growth and Social Values

This paper makes an attempt to investigate that social entrepreneurship should be included as an importantfactor for socio-economic growth. Entrepreneurship is basically the practice of starting a business to earn profit on new found opportunities. Ideas and concepts that emerge from entrepreneurs speed up innovation of new products in the market because of efficient nature of entrepreneurs. This paper addresses the impact of entrepreneurship on economic growth, reviews and evaluates the various recent literatures on how entrepreneurial performance depends on the entrepreneurial teams. Creation of new business opportunities through entrepreneurship, innovation and productivity leads to economic growth. This therefore means that when there is more entrepreneurship in an economy more growth is expected. Social Entrepreneurship involves recognizing opportunities, triggering positive change in various domains, combining and mobilizing resources and building sustainability. This paper focuses on defining new possible roles and strategies for entrepreneurs, addresses social need to companies and contributing to sustainable development.