The Role of Entrepreneurship in Fostering Economic Growth and Employment Opportunities in the Post-COVID-19 Era in Pakistan
Abstract
The COVID-19 pandemic has caused significant economic damage in Pakistan, leading to poverty and unemployment. The goal of this research is to assess the influence of entrepreneurship on economic growth and employment in the post-pandemic period. This study analyses important opportunities and challenges to Pakistan's entrepreneurial ecosystem using a thorough qualitative literature analysis of relevant studies and policy reports. According to the report, the most important impediments to entrepreneurial activity are limited access to capital, complex legal frameworks, and a lack of specialized skills training. The epidemic exacerbated these issues, particularly for Micro, Small, and Medium Enterprises (MSMEs), which are the backbone of the economy. On the other hand, the report highlights the positive aspects of Pakistan's entrepreneurs, such as their resilience and adaptability. The conclusion emphasizes how essential entrepreneurship might be in Pakistan's economic revival. To accomplish this potential, the report proposes a comprehensive strategy that includes financial aid, government policy reform, and entrepreneurial education and mentoring initiatives. Pakistan would be able to effectively use entrepreneurship to establish long-term employment and economic growth if it creates an environment conducive to entrepreneurship with strong government support, improved access to resources, and an innovative culture.
Keywords
COVID-19, Entrepreneurship; , Economic Growth; , Employment; Pakistan.
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