SUSTAINABLE ENTREPRENEURSHIP: A CATALYST FOR POVERTY ERADICATION AND ECONOMIC DEVELOPMENT

Abstract : The United Nations' 17 Sustainable Development Goals (SDGs), approved in 2015, include major objectives such as eliminating extreme poverty, ensuring universal access to enough and nutritious food by 2030, and promoting sustainable industry. The promotion of sustainable entrepreneurial development will greatly contribute to the attainment of these objectives. The primary objective of the research is to identify the components of sustainable entrepreneurship and formulate a novel framework for it. Additionally, the study aims to analyse the connections between (a) the development of entrepreneurship and the state of poverty, and (b) the sustainable development movement and increased economic growth. This study is a combination of conceptual and descriptive elements, and it relies on secondary data. In addition to reports from organisations such as the World Economic Forum, United Nations, World Bank, FAO, and media, research articles published in journals have also been taken into account. A Spearman correlation test is used to determine the association between variables. There is a little negative correlation between entrepreneurial development and poverty levels, whereas there is a modestly favourable correlation between the sustainable development movement and faster economic growth. The results would provide insight into the current understanding of sustainable entrepreneurship and its contribution to the attainment of the Sustainable Development Goals (SDGs). The current research introduces a revised model of sustainable business that aligns with the SDGs, building upon the work of several experts. Keywords: sustainable entrepreneurship, sustainable development, economic growth, poverty reduction, SDG 1. Introduction: Entrepreneurship development has long been a focal point for policymakers and scholars, who have associated it with the production of wealth, job opportunities, empowerment of women, and economic progress. The concept of many types of entrepreneurship, such as social entrepreneurship, green entrepreneurship, and eco-entrepreneurship, also originated in the literature on entrepreneurship in the 1980s and 1990s. Subsequently, several categories of business endeavours have been rapidly increasing in popularity. Nevertheless, the issues pertaining to poverty, hunger, unemployment, inequality, and the absence of suitable job opportunities have yet to be resolved. The prevalence of harmful entrepreneurship, often linked to white-coll