In this lesson we have learnt that entrepreneurship plays an important role in economic development. Namely:

• creating employment;
• raising living standards;
• increasing national savings reserves and
• the provision of goods and services.

We have also seen that the following strategies and sources are good when identifying a business idea:

• Keep an idea files or note book.
• Read newspapers and magazines.
• Subscribe to trade journals.
• Talk to friends, family members.
• Interact with other entrepreneurs.

To develop the idea further it was advised that you,

• Read widely on your idea.
• Discuss your idea with friends and family.
• Research the details on your idea.
• Test ideas on a limited scale.