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In socioeconomic terms, any activity that provides opportunities for people to be engaged in income-generating occupations—either from new venture creation or from an already established business—is referred to as job creation. People seek paid employment to provide a living by allowing them to pay for their basic needs. Moreover, an inverse relationship exists between job creation and social problems. Hence, job creation remains a critical focus of governments in both developed and developing countries. New ventures, business expansions, and project development create new jobs. With labor statistics on job creation and high rates of unemployment telling the story of the state of the economy, it has become more important than ever for new ventures to thrive and thus enhance job creation.

Despite its well-established role in ...

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