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12. Role of Banks and Financial Institutions

Banks and Financial Institutions have also played an important role in the development of entrepreneurship or entrepreneurial. If these Institutions quickly approve the projects submitted by the entrepreneurs, it provides encouragement for the establishment of Business and Industrial Enterprises. It also simplifies the policies and procedures for providing loans and credit, and also provide facilities for Research and investigations, which results in the development of entrepreneurship or entrepreneurial, which otherwise is not easily possible.


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Basically, banks and financial institutions provide capital to businesses via loans. The capital provided enables these businesses to develop and grow, they can use the capital to hire more employees, buy machines/ equipment to make their operations more efficient, or do research and development to create new products/ services or improve existing ones. All of these business activities help our overall economy.

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