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Jemshah
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Enlightened
Asked: 2023-01-26T14:34:34+00:00 In:

effects of corruption on the entrepreneurial development of a country. (4 marks) Oct/Nov, 2022

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State four effects of corruption on the entrepreneurial development of a country.

(4 marks)
Oct/Nov, 2022

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  6. Enlightened
    1. Lack of trust in government and institutions: Corruption can lead to a lack of trust in government and institutions, which can make it difficult for entrepreneurs to navigate regulations and access resources and support.
    2. Reduced access to funding: Corruption can lead to a lack of access to funding for entrepreneurs, as resources may be siphoned off by corrupt officials.
    3. Increased costs of doing business: Corruption can lead to increased costs of doing business, as entrepreneurs may have to pay bribes or engage in other corrupt practices in order to operate.
    4. Reduced competitiveness: Corruption can lead to reduced competitiveness in the marketplace, as entrepreneurs who engage in corrupt practices may have an unfair advantage over those who do not.
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