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Existing literature demonstrates that there is a close link between entrepreneurship and economic growth, primarily because new businesses contribute to employment creation. According to U.S. Census data, small businesses employ up to 50% of the private work force and generate 60% to 80% of the net new jobs each year. In a time where countries face multiple economic challenges, entrepreneurs could play a significant role in the economic growth of a country, a state, or a city.
Leticia Camacho (Wed,) studied this question.