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Entrepreneurship & Economic Development through LLP
The essence of entrepreneurship lies in the perception and exploitation of new opportunities in the realm of business... it always has to do with bringing about a different use of national resources in that they are withdrawn from their traditional employ and subjected to new combinations. Entrepre...
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| Format: | Article |
| Language: | English |
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2011
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| Summary: | The essence of entrepreneurship lies in the perception and exploitation of new opportunities in the realm of business... it always has to do with bringing about a different use of national resources in that they are withdrawn from their traditional employ and subjected to new combinations. Entrepreneurs provide a spark to the engine of a nation's economy. The role played by the entrepreneurs in the advancement of an economy has been acknowledged internationally and India is no exception to that. Entrepreneurship and economic development are intimately interrelated. Amid the growth of the Indian economy the concept of Limited Liability Partnership got the statutory mandate of the Indian Parliament with the enactment of the Limited Liability Partnership Act, 2008. The concept of LLP is an alternative to the existing models of corporate vehicles. The need and rationale for introducing the LLP has been explained as under: With the growth of Indian economy, the role played by its entrepreneurs as well as its technical and professional manpower has been acknowledged internationally. It was felt opportune that entrepreneurship, knowledge and risk capital combine provide a further... |
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