Effect of entrepreneurship on economic well-being in mali

ABSTRACT This study has as objective to examine the determinants of entrepreneurship in Mali, explore the relationship existing between entrepreneurship and the economic well-being of Malians and to verify the effects of entrepreneurship on economic well-being by the geographical location of households in Mali. Research over the last 25 years shows that entrepreneurship is a cause of macroeconomic development, but that the relationship between entrepreneurship and wealth is very complex. The literature emphasises that the overall positive effects of entrepreneurship depend on a variety of factors that influence the magnitude of these effects. This study employs a descriptive research design. Becker's (1965) family economic model serves as the conceptual underpinning for our investigation of the implications of social capital supply based on family and friend ties. According to the data, corruption, business experience, good health, and marriage all have a beneficial impact on the amount of entrepreneurship. Entrepreneurship was found to be negatively affected by household size, saving, and greater levels of education. Individuals are less likely to engage in entrepreneurial activity as their household size grows. This is because a larger household means more time is devoted to family welfare and less time is devoted to company ventures, resulting in a decrease in entrepreneurial activities. Having access to a savings account serves as a disincentive to any entrepreneurial venture. This is because for an individual to own savings account, he most have a job. His ability to save makes him contented with his job hence any entrepreneurial activity is far away from his present objective. Higher level of education on its part implies more training which provides an individual with cognitive skills to better evaluate an exploit opportunity, increase the level of self-confidence and reduce perceived risk.. Key words: entrepreneurship, well-being Key words: entrepreneurship, well-being