There is a popular perception that the reason behind the lack of. Economic dynamism in a range of countries is the lack of entrepreneurship. The reality is that people who live in poor countries have to be very entrepreneurial even just to survive. For every loiterer in a developing country, you have two or three children shining shoes and four or five people hawking things. What makes the poor countries poor is not the absence entrepreneurial energy at the personal level, but the absence. productive ‘technologies and developed — social institutions. especially modern firms. The increasingly apparent problems wit micro-credit_______ very small loans given to poor people in developing countries with the pronounced aim of helping them up business  show the limitations of individual entrepreneurship Especially in the last century, entrepreneurship has become, collective activity, and so the poverty of collective organization.Become an even bigger obstacle to economic development than the deficient entrepreneurial spirits of individuals.