The role of Entrepreneurship in Community Development

Entrepreneurship is not just an economic phenomenon. It is a force that creates social Value and a resource for community development. Self development constitutes one possible approach tocommunity development. It nurtures local entrepreneurial activities and relies basically on local resources in order to create new jobs and economic activities. These local Activities of entrepreneurship generate variety and leverage resources and can therefore foster social capitaldevelopment and contribute to the community's capacity. Community development requires a mix of resources including natural capital, produced economic capital, human capital and institutional capital. Social capital is the glue that holds them together, a network of social relations based upon norms of trust and reciprocity leading to outcomes of mutual benefits. The main objective of this paper is to examine the relationship between entrepreneurship and local development. Research shows that Self-development nurtures local entrepreneurial activities and relies basically on local resources in order to create new jobs and economic activities. Own a resource lets it pursue opportunities without regard to resources they already control

Keywords:

Entrepreneurship , Community Development , Human capital , Social Capital , Community capacity