Strategizing the Entrepreneurial Ecosystem of Start-ups for Rebuilding Communities

Abstract

Abstract All around the world, the tourism sector was hard hit by the pandemic. Many nations across the world are majorly dependent on tourism for their gross earnings. It is the backbone of service sector and has a great potential to boost entrepreneurial and related industries. The employment generation through this sector can be enormous if proper emphasis is laid on the factors inducing entrepreneurship, like conducive start-up policies, supportive government initiatives, and adequate financial support to the budding entrepreneurs along with development of financial and societal support systems. Across the globe, many communities suffered due to pandemic and the problems associated with that. Entrepreneurship is regarded as key to business innovation and development of economies. Thereby, in order to plan for resilience strategies, it is very important to understand the peculiarities of entrepreneurial ecosystem. It becomes necessary to understand and strategize the growth of entrepreneurial ecosystem to rebuild communities. This chapter highlights the relationships between entrepreneurial ecosystems and tourism sector for the growth of economy. The major finding is that without entrepreneurial growth, no economy or no sector can revive from crises. Therefore, it is necessary to focus on building effective strategies to support the stakeholders of the entrepreneurial ecosystems so as to promote growth and revive from the damage caused by pandemic.

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