Prepared by Dr. Khalid Hussein Ali Al-Marzouk Entrepreneurship is considered one of the fundamental pillars on which modern economies rely to achieve growth and sustainable development. It serves as an important engine for generating innovative ideas and transforming them into productive economic projects. With technological advancements and the rapid changes in the business environment, entrepreneurship has become a central factor in enhancing economic activity, addressing unemployment issues, and improving living standards. Concept of Entrepreneurship Entrepreneurship refers to the process of establishing new projects or developing existing ones based on innovation, initiative, and risk-taking, with the aim of achieving profit and providing products or services that meet societal needs. Entrepreneurship is not limited to founding small businesses only; it also includes developing work methods within organizations and fostering a culture of innovation and creativity. The Role of Entrepreneurship in Supporting Economic Development Entrepreneurship contributes to economic development in several ways, the most important of which are: • Stimulating economic growth: Entrepreneurial projects increase production and expand economic activities, leading to higher GDP and improved economic growth indicators. • Promoting innovation and technological development: Entrepreneurs rely on creative ideas and modern technologies to develop new products and services, which helps improve production quality and enhance competitiveness in the markets. • Diversifying national income sources: Entrepreneurial projects help reduce reliance on a single economic sector, enhancing economic stability and minimizing risks associated with market fluctuations. • Attracting local and foreign investments: A vibrant entrepreneurial environment attracts investors and encourages them to finance new projects, which supports economic activity and increases growth opportunities. The Role of Entrepreneurship in Creating Job Opportunities Unemployment is one of the major challenges facing many countries, and entrepreneurship plays a significant role in reducing it through: • Providing direct job opportunities: By establishing new projects that require human resources for management and operation. • Providing indirect job opportunities: Entrepreneurial projects stimulate related sectors such as marketing, transportation, and services. • Empowering youth and encouraging self-employment: Entrepreneurship motivates young people to establish their own projects instead of relying solely on government or traditional jobs. Challenges Facing Entrepreneurship Despite the importance of entrepreneurship, it faces several challenges such as lack of funding, limited managerial experience, legal complexities, and financial risks associated with starting new ventures. Therefore, promoting entrepreneurship requires providing a supportive environment that includes flexible regulations, training programs, and financial facilitation. Ways to Enhance Entrepreneurship Entrepreneurship can be supported by promoting a culture of innovation in educational institutions, offering training and qualification programs for entrepreneurs, establishing business incubators and accelerators, as well as providing banking and financial facilities for small and medium enterprises. Therefore, entrepreneurship represents an effective tool for achieving economic and social development due to its role in stimulating innovation, increasing production, and creating job opportunities. By providing a supportive environment for entrepreneurs, countries can achieve sustainable economic progress and contribute to building more prosperous and stable societies.