Planning and Budgeting

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In the recent literature of economics, entrepreneurship has been regarded as a key factor in the economic growth. Thus, encouraging of entrepreneurship is highly recommended in public policies. In the national production function, the role of entrepreneurship capital and labor is invaluable. Entrepreneurship capital is the capacity of an economy to generate entrepreneurial behavior. Increase of this capital would result in an increase in the number of entrepreneurs entrepreneurs develop innovation and competition, which, in turn, can cause more productivity and employment. In conducting this paper, entrepreneurship has been approached from the macroeconomic viewpoint, followed by practical suggestions for increasing entrepreneurship rate. As a short run strategy, training entrepreneurship and supporting entrepreneurs are suggested. Meanwhile, using successful entrepreneurs and avoiding formal schooling as a way of training efficient entrepreneurs are also recommended. It must be noted that, policies for increasing entrepreneurship capital in the long run will bring about considerable economic growth. Of these policies, promoting self-employment culture, creating new knowledge and appropriate regulation for facilitating new businesses can be mentioned.

Keywords: Entrepreneurship Capital, Entrepreneurs Training, Economic Growth, Full Employment, Productivity

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