important of entrepreneurship in Tanzania economy(SOSO)

FACULT OF ARTS ND SOCIAL SCIENCE

DEPARTMENT:                                SOCIOLOGY AND DEVELOPMENT STUDIES

COURSE TITTLE:                             ENTREPRENEURSHIP

COURSE CODE:                               GM 321

 COURSE INSTRACTOR:               MADAM, RITA

ATTEMPTED BY:                              SOMOE J.HASSAN

REGISTRATION NO:                       STE/BASO/121758 

NATURE OF ASSIGNMENT:          INDIVIDUAL ASSIGNMENT.

SUBMISSION DATE:                      02^nd APRIL, 2019                          

TASK: what are the important of entrepreneurship in Tanzania economy.

SS

INTRODUCTION

     Entrepreneurship is the process of creating new thing of value for your idea by using time, effort and money, assuming the financial, physical and social risk. Entrepreneur bring their idea to the firm to produce new product or services and their by act as a force for change within the organization. Entrepreneur a person who organizes and operates a business venture and assumes much of the associated risk. Entrepreneur should be creativity in order to produce new product to develop a market. Entrepreneurs plays a role in the society of development of a country and their own lives. The importance of entrepreneurship in the Tanzania economy as the following.

  MAINBODY

        Create employment opportunities, people employ themselves into different business in order to gain money. That caused by the lack of employment in the country. The entrepreneur start with little capital and later to gain more profit, that profit used to running their lives in the country. And that cause to reduce number of many people who have lack of employment and bad living condition in the society. Example entrepreneurs now days are so many and have a big business which cause to employ other people such as making breads.

        Increase of National income, entrepreneurs deal with business activities for the aim of gain money. And those entrepreneurs pay a tax to the government, if you have any kind of business you should pay a tax. That tax increase a National income to the government, and government use tax for the development of the country. The government can use tax for building infrastructure ,schools ,water and electricity supply into different area of the country .Example now days in Tanzania if you buy anything you should get a check to ensure that you paid a tax to the government.

         Development of new product, through entrepreneurship different new product are produced as a result of competition among the entrepreneurs. For example in Dar-as-salaam various products are produced such as breads, juice and other delicious food .Thus why entrepreneurs are always creativity this is due to the fact that they think on how can attract their clients, for more purchasing. Also entrepreneurs have great competition to produce different products.

          Expansion of market, through the presence of goods produced by the entrepreneurs there is possibility of expanding of market in the country can be within or outside. Entrepreneurs play a great role to increase the number of markets. Example now days in Tanzania have many number of markets than previous days. Now a Tanzanian entrepreneur can share  a business with a person from outside of the country like Kenya and Rwanda because of increasing of new goods and markets.

          Economic integration of outside, also entrepreneurs act as abridge of integration among the people of different countries. Entrepreneurs move from one area to another to find a market in order to sell their good and to announce the new products. The entrepreneurs can move internal or external of the country. In external entrepreneurs exchange different ideas and skill with people from other country for the aim of gain new knowledge on production.

               Development of industries, many industries especially small scale industries are established by entrepreneurs in order to ensure maximum production of goods so as to make more profit. Entrepreneurs have different skills on how can produce quality and quantity goods by using different machines. For stance the soap water making start from entrepreneurs for local making and now develop to the high quality and creativity. Also entrepreneurs produce the materials that used in industries to produce other good in Tanzania.

  CONCLUSION

             Entrepreneurship is the most crucial to the development of any country, so that the government must put much efforts and emphasize if not support to the entrepreneurs. Like to give them security ,capital, loans as well as education in order to revamp the economic growth of our country.