ENTREPRENEURSHIP AND SPORTS: A CATALYST FOR ECONOMIC DEVELOPMENT

Abstract

This paper explores the dynamic interplay between entrepreneurship and sports as catalysts for national development. The review highlighted how entrepreneurial endeavors within the sports industry contribute significantly to economic growth, social cohesion, and cultural enrichment. The paper through literatures unveiled the multifaceted impacts of sports entrepreneurship on national progress. The paper also examines how sports provide a fertile ground for entrepreneurial opportunities, ranging from sports technology and equipment innovation to event management and sports tourism. The paper also acknowledges the challenges and considerations in harnessing the full potential of sports entrepreneurship for national development. It discusses issues such as access to resources, infrastructural development, and equitable distribution of benefits, emphasizing the need for strategic policies and collaborations between governments, private sector entities, and sporting organizations. In conclusion, this review paper highlights the undeniable synergy between entrepreneurship and sports in driving national development. It recommends the need for continued research, policy innovation, and collaborative efforts to maximize the transformative impact of sports entrepreneurship on economies and societies around the world.