Development of entrepreneurship around the world depends on avoiding the impact of formal institutions that govern how entrepreneurs start up new ventures.

Question

Quizplus · Accepted Answer

The statement is false. Development of entrepreneurship around the world often depends on the presence of supportive formal institutions such as legal frameworks, funding opportunities, and business support services. These institutions can provide the necessary resources and infrastructure for entrepreneurs to start and grow successful businesses. However, it is also important to mitigate any negative effects of formal institutions, such as corruption and bureaucratic barriers.

Development of Entrepreneurship Around the World Depends on Avoiding the Impact