Question

Given what you have learned in this class, what do you think the PEI government should do to promote entrepreneurship? Or if you think the government shouldn't do anything, please explain why.

Answer 1

Entrepreneurship is the backbone of any economy as it not only works upon new ideas, inventions and opportunities, but also to it creates jobs. So, the economy flourishes when it has entrepreneurship in its culture. In this regard, the PEI government should take following initiatives to promote entrepreneurship.

1. The first initiative should be to promote entrepreneurship with the help of providing seed capital, financial assistance, technical assistance and mentoring program to the budding entrepreneurs.

2. The second initiative should be to set up incubation centers where entrepreneurs will be provided space and support on the basis of the merit of their ideas.

3. The third initiative should be to setup a department or organization that can facilitates the export of goods and services produced by entrepreneurs in overseas markets.

4. The fourth initiative should be to promote entrepreneurship education in the colleges and universities, vocational programs so that students can learn about it and can be encouraged to take entrepreneurship as their career.

Above initiatives should be taken up so that PEI area will have jobs and economic prosperity, promoted by the government.