Fiscal policy is a government's decisions regarding spending and taxing. If a government wants to stimulate growth in the economy, it will increase spending for goods and services. This will increase demand for goods and services. Since demand goes up, production must go up. If production goes up, companies may need to hire more people. People that were once unemployed may now have jobs and money to spend on goods and services.

This will further increase the demand and require more production and, hopefully, the cycle of growth will continue. Barry may even get more business as people have more money to spend on products at his store. Consequently, government spending tends to speed up economic growth.

If the government thinks the economy is overheating - or growing too fast - the government may decrease spending. A decrease in government spending will decrease overall demand in the economy.

Businesses will slow production, which means profits will decline, resulting in less hiring and business investments. A cut in government spending may hurt business, because there will be less money in people's pockets to spend at his store, possibly from being laid off. If Barry provides goods or services to the government, he may take a double-hit.
The other side of fiscal policy is taxes. Decreasing taxes tends to stimulate economic growth. If taxes go down, Local business will have more money in his pocket. We’ll either spend it or save it. If he spends it, he increases demand and businesses have to produce more. This means they may have to hire more people. These people will then have more money to save or spend - maybe at Barry's store. On the other hand, if Barry saves the money, he'll put it in his bank. The bank will loan the money he deposited, and borrowers will spend it.

Some economists are concerned that government spending and reduction in taxes will create a crowding out effect. If the government doesn't have enough revenue to support spending, it will have to borrow money. According to some economists, government borrowing tends to increase interest rates. And, increased interest rates discourage individuals and businesses, like Barry, from borrowing money for spending and investment. According to these economists, government spending may crowd out private investment.

If the government wants to slow down an overheating economy, it may decide to raise taxes. This means people have less money to spend. Fewer people will be hired because there is less demand. Unemployed people don't have extra money to spend at Local Business store. Business may not make as much money, which means he'll have less money to invest in his business and less money to spend for his personal consumption. The economy will slow down.

Few entrepreneurs have heard of or studied economics. But experience shows that most entrepreneurs are doing business without knowing it. They have learned from experience how the economy works and have developed an intuition. Their gut feeling, sometimes referred to as entrepreneurial judgment, is a tacit understanding of the economy as a market process and what this means for entrepreneurship.

Here are four insights from TICGL economics that are part of that entrepreneurial intuition:

1. Consumer sovereignty Not only is the customer king, but all production aims to ultimately satisfy consumers in some sense by providing them with value. This value is entirely up to the consumer. Entrepreneurs can only provide the means, typically a good or a service, that help consumers become better off. Sometimes this requires educating the customer so that they understand the value of the product. And, typically, the value lies in their complete experience, not just what you sell.

2. Value determines price and costs are a choice With value being in the eyes (and experience) of the consumer, the price they are asked to pay must be (much) lower. The entrepreneur’s job is to figure out at what price their product is attractive, and then choose a cost structure that allows for profit. In other words, the price is a guess based on what value consumers see in the product. The only choice is cost: how to produce at costs below the selling price and, ultimately, whether to produce.

3. Entrepreneurship is about creating tomorrow Leading economist notes that “the ultimate source from which entrepreneurial profit and loss are derived is the uncertainty of the future constellation of demand and supply.'' What that means is individual entrepreneurs choose costs in the present to produce a product that must be sold in the near or distant future, whatever the market situation might be. That’s the uncertainty borne by the entrepreneur.

4. Seek to be a good monopolist In standard economics models, competition is about offering the same or nearly the same goods competing on price. This is a terrible strategy for entrepreneurs, whose superpower is to facilitate value. Therefore, think of competition differenlty : It is about figuring out how to provide the best value experience possible. This often involves thinking out of the box and trying something new. Every innovation is by definition a new, unique offering and therefore also a monopoly. What benefits consumers most is entrepreneurs who aim to be good monopolists.

Standard economics has turned its back on and developed models that exclude entrepreneurship. As Joseph Schumpeter, schooled in the Austrian tradition, put it: the market economy without entrepreneurship is much “like Hamlet without the Danish prince.” Indeed, entrepreneurs are the main characters in the drama that is the economy. An economic theory that recognizes this not only does a better job explaining the economy -- it is also a useful framework for entrepreneurs.

This study focus on address challenges and opportunities confronting small business in Tanzania, Aim is to examine the causal relationship between small business and the magnitudes of its  investment, magnitude of small business with the levels of income, magnitudes of small business and levels of employments and magnitudes of small business with macro-economic policies. A total number of 450 small businesses were chosen. 95% of the businesses in Tanzania are small business and they are representing more than 35% of the country GDP.

Why does the government of Tanzania work so hard to control unemployment? The answer is largely based on self-preservation. Unemployment negatively impacts the Bank of Tanzania ability to generate income and also tends to reduce economic activity. Currently Tanzania have large number of graduates that cause higher number of unemployment, When unemployment is high, actually fewer people are paying taxes to the government to help it run.

Additionally, unemployment results in fewer people with income to spend on goods and services. When less people have money to go out to eat, buy gifts, or shop at the local stores, this lowers spending. This in turn makes it more difficult for businesses to profit and expand, which can result in lower job growth and lower overall economic growth.

So how does the tax side of fiscal policy affect unemployment in Tanzania? Taxation is one of the primary fiscal policy tools the government of Tanzania has at its disposal to reduce unemployment. When unemployment is high or the economy needs a boost out of a recession, the government can lower the tax rates on businesses and individuals, ultimately putting more money into the hands of consumers.

In general, as consumers spend or demand more goods and services, businesses make more money and need to hire more people to keep up with increased demand. This in turn can result in more people paying taxes into the government and generating revenue.

For example, if you owned a local shop and residents now had more money to spend, they may come visit you more often to indulge in that special treat or experience you offer. When they demand more baked goods and coffee, you may need to hire an additional employee to keep up so that you can maximize your revenue. As this happens across several different businesses and local economies, it can have a largely positive effect on employment.

Women talent is distinguished beyond multitasking, in having a creative pulse to develop ideas, join efforts between diverse talents and a critical vision on solving everyday problems.
The development of innovative ideas that seek to revolutionize the traditional is the common denominator in the entrepreneurial ecosystem, an element that has no gender. However, Women participation is key in the development of an entrepreneurial culture at a global level.

According to TICGL data from the TICGL Economic Research and Data Development Center, in Tanzania , the highest proportion of female entrepreneurs is found in the region, an indicator that makes us reflect on their continuous contributions to innovation and disruption of different industries, and especially of its relevance in the solid construction of companies, which are germinating and positively impacting society.

In the current context of the pandemic caused by COVID-19, the economies of the countries are looking for mechanisms to recover the rhythm and return to the production and consumption levels prior to this health crisis, that is when entrepreneurship takes a fundamental role in promoting economic recovery for nations and in fostering a culture of innovation among women to facilitate their participation in the emergence of new business units.

Women entrepreneurs offer strong potential to contribute to job creation, growth and competitiveness. In this context, Women talent is distinguished beyond multitasking, in having a creative pulse to develop ideas, join forces among diverse talents and a critical vision of solving everyday problems.

For example, in traditional sectors such as finance, real estate and technology, the role of women has been of great importance in promoting resilient and creative businesses. The fact of a convergence and exchange of innovations provides a wealth of perspectives on solutions and disruptive projects in the various economic sectors.

The promotion of an entrepreneurial culture within any country also entails a series of continuous actions by those who make decisions, to promote leaderships that in turn build multicultural, intergenerational and multidisciplinary teams to positively impact society.

Let us remember that entrepreneurs are also agents of change and play a role in job creation, which shows us the potential of innovative ideas. As is evident, women have taken on a major importance in the creation of companies and entrepreneurship, thanks to this it has been possible to overcome several obstacles that did not allow women to have a leading role in business.

The recognition and promotion of women in business will help in the future more and more women want to be part of or want to undertake, this does nothing but benefit so that in the future there is a level floor in which women and men have the same projection and opportunities, but above all, a conducive environment to undertake with a gender perspective.

A community based health evaluation is a systematic analyze community health needs/status. The process provides a way for community to prioritize health needs and to plan and act upon unmet community health needs.

Socio-Economic Factors Determines Community Based Health Status

Summary.  

We frequently find ourselves managing in situations where the company or unit strategy is unclear, in flux, or constantly changing. The best managers find ways to provide steady, realistic direction and to lead with excellence, even when the strategy isn’t clear. There are three things you can do today that will put you in a better position to manage strategic ambiguity:

1. Take pragmatic action by getting back to basics to deliver value,
2. placing intelligent bets on what you do know, and
3. embracing short-term strategies by operating in sprints.

Cultivate emotional steadiness by being learning more about the situation, acknowledging and navigating your emotions, and keeping team communication open. Tap into others’ expertise by imagining what the leader you respect the most would do, engaging other managers, and embracing the wisdom of thought leaders. Following these three approaches, you can keep lack of clarity at your company from cast a shadow over your confidence or performance.It’s one of the few facts in business everyone agrees on:Without a clear and compelling strategy, your business will fail. From MBA programs, to business book jackets, to the last keynote you attended, you’ve heard it repeated again and again.

Despite this, we frequently find ourselves managing in situations of strategic ambiguity when it isn’t clear where you’re going or how you’ll get there. Why does this happen? Market conditions shift rapidly. Customers have more choices than ever. Resources are constrained. Executives leave, interims are appointed, and searches drag on. The list continues, and even if your company is nimble enough to set strategy effectively at the top, keeping the entire organization strategically aligned is an entirely different challenge.

Your company might have a clear strategic imperative, but your unit or team might not.In my consulting practice, I work with leaders all over the world on strategy and execution, and they shift uncomfortably in their chairs every time I broach this topic. Strategic uncertainty can feel like slogging through mud. Leaders avoid investments. Decisions are deferred. Resources are frozen. Fear, uncertainty, and doubt drive bad behavior and personal agendas. Even so, companies often succeed or fail based on their managers’ ability to move the organization forward precisely at times when the path ahead is hazy.
The best managers find ways to provide steady, realistic direction and to lead with excellence, even when the strategy isn’t clear. Push your leaders for clarity, yes. In the meantime, be productive. There are three things you can do today that will put you in a better position to manage strategic ambiguity:

1. Take pragmatic action,
2. cultivate emotional steadiness, and
3. tap into others’ expertise.

Take Pragmatic Action
I’m a proponent of practical approaches to dealing with uncertainty. Doing something, anything, in support of your company’s success makes you and your team feel better than doing nothing.

• Get back to basics.

Deliver value. First, focus on what you can control. You owe it to the organization and to your team to deliver value every day. What clientele does your team serve today and what do they expect or need from you? How can you perform better, faster, or smarter to deliver on the promise of excellent service? What matters to the organization’s mission or vision? How can your team contribute to that? When uncertainty comes, first and foremost do good work. You’ll put the company in the best possible position to navigate new strategic choices.

• Place intelligent bets.

What’s likely? When the strategy is uncertain, the best managers acknowledge what’s unknown, but also look ahead to what is known and what is likely to happen. What do you know about the dynamics impacting your company? What options are being discussed? What does your boss think will happen? What can you do today to prepare yourself, your team, and potentially your clients for change? In almost every case, managers can place intelligent bets and start to work toward a future state even when the complete landscape remains out of focus.

• Operate in sprints:

Embrace short-term strategies. Once you’ve focused your team on delivering value and started to explore what’s possible, you’re prepared to move forward with a discrete set of priorities. Take a note from organizations that use agile methods and create your own strategic sprint. What can you do personally to contribute to strategic clarity for your part of the business? What projects can your team execute in 30, 60, or 90 days that will benefit the organization regardless of which direction the strategy takes? Strategy isn’t only the work of senior executives—any work you do to further the company’s capabilities and position your team for the future is a great investment. Don’t stand still, awaiting the “final” answer on strategy. Move your team and the company forward.

Cultivate Emotional Steadiness.
Strategic ambiguity pushes you out of your comfort zone. When there’s clear, unwavering direction, you can focus on defined targets and deliver results. When strategies shift, or are hinting toward a shift, it’s normal to feel unsettled, and you’ll see this in your team too. Here are three steps you can take to help yourself and your team navigate the emotions of strategic ambiguity.

• Be proactive.

Learn more. One of the reasons I suggest pragmatic action is because doing something concrete helps you move beyond your raw emotions. But there’s more to emotional steadiness. Questions arise naturally: How will this impact my group? What if everything we’re doing today alters? What if this involves job changes, layoffs, or lost resources? Learn as much as you can so you’re informed, not just reacting to rumor and innuendo. Use your internal network and ask others in the organization for insight, context, and clarity. When you’ve done the hard work of sense-making, you’ll be able to anticipate the questions your team will ask and prepare the most effective answers you can.

• Acknowledge and navigate emotions.

Emotional steadiness requires that you be intentional about the way you show up in the workplace. Your role is to be calm, transparent, and steady, all while painting a vision for the future. Acknowledge your emotions and talk to a peer or your boss if you need to work through them. Play out the worst-case scenario in your mind and then move on to the more likely outcome. Chances are the reality isn’t as bad as what you might conjure up when your emotions are heightened. Commit to avoiding stress responses, frustration, rumors, or other nonproductive behavior. Your team members are watching and taking their cues from you.

• Keep team communication open.

Strategic uncertainty can cause managers to communicate with team members less frequently and less openly. “If I don’t have clarity to provide, why not wait?” the thinking goes. But in truth, ambiguous situations require you to communicate even more than normal. To demonstrate emotional steadiness, share your own emotions and acknowledge those of your team in productive ways. Let team members know that what they feel is okay. But talk with them about your commitment to being emotionally steady even during times of uncertainty. Ask them to do the same and come to you if they are frustrated or concerned. Maintaining open dialogue will keep your team engaged and aligned until a clear direction emerges.

Tap into Others’ Expertise.
Leading through periods of uncertainty and change can be isolating for managers. Remind yourself that you are not alone. You have a network of people who have likely faced similar challenges and you can tap into their experiences. Here are three ways you can tap into the expertise of others for support.

• Imagine your most respected leader’s approach.

What would they do in your situation? How would they handle the ambiguity or state of flux? How would they view the way you’re handling yourself? This exercise can be incredibly powerful in helping you stay calm and emotionally steady, exercise your critical thinking, and take pragmatic action even in the most uncertain circumstances. Those we most respect have demonstrated traits we admire. Tap into their strengths to inform your own.

• Engage other managers.

Managers often believe they need to “be strong” and go it alone to demonstrate managerial confidence and competency. That’s not true. My executive clients reach out to peers and former colleagues regularly for advice, counsel, and emotional support. If someone you know reached out to you to ask for your advice, you’d happily provide support and feel valued as a peer. Your network will feel the same. Start the conversation with “I could really use another point of view” and you’ll be surprised how quickly others engage.

• Embrace the wisdom of thought leaders.

Your network becomes global when you expand beyond those you know personally to those you can access in today’s digital environment. The greater your understanding of how others think about strategic agility and change leadership, the better you’ll be able to navigate ambiguity in your company. The brightest and most inspiring minds are at your fingertips—read books and articles, listen to podcasts and interviews, and watch instructive videos, webinars, and more to expand your thinking and learn new approaches relevant to your specific situation.

The ability to thrive during periods of strategic uncertainty separates the great managers who go on to become exceptional leaders from the rest. Don’t allow a lack of clarity at your company to cast a shadow over your confidence or performance. Even in the most challenging and ambiguous of situations, you put yourself in a position to succeed when you commit to taking pragmatic action while demonstrating emotional steadiness and drawing on the expertise of others.

Public investment projects shapes choices about where people live and work, influences the nature and location of private investment, and affects quality of life. When done right, public investment can be a powerful tool to boost growth and provide right infrastructure to leverage private investment. In contrast, poor investment choices or badly managed investment waste resources, erode public trust and may hamper growth opportunities.

Public Investment Management Project System and Economic Growth Perspective in Tanzania

Tanzanian youths being the majority in the country’s labor force, they are still challenged in issues around pursuing their destiny through decent economic activities & employment, access to quality education and their participation in decision making processes.

Youth Employment & Economic Perspective

In pursuing your dream, you will be the biggest factor in your own success – your ability to identify an opportunity, execute an idea or deliver a service. In this section we will consider the all-important question: What are the qualities and personality traits that come together to make the successful entrepreneur?

Many studies have been conducted that delve into the personality of entrepreneurs. The results of these studies can help us begin to build the profile of the successful entrepreneur. For example: they were most likely the first born in their family; they held their first job before they were fifteen; and while they are college graduates, they were average students.

These kinds of studies of the entrepreneurial psyche may be interesting, but as you evaluate your entrepreneurial potential, you need to know more. After all, being the second born in your family, or being at the top of your class, does not preclude entrepreneurial success.

While many of the key characteristics and attitudes that make up the entrepreneurial "right stuff" can be acquired or learned, the importance of innate attributes such as physical health, energy and emotional stability cannot be overlooked. The life of the entrepreneur is a demanding one and there is little distinction between professional and personal life. That they are comfortable in this all-consuming role is critical to the success of the business and the satisfaction of the individual.

In this chapter we will look at what have been described as the key elements of the entrepreneurial "right stuff" the characteristics that are essential to the successful entrepreneur. It is important that you evaluate yourself as objectively as possible. There is no right or wrong answers and an honest evaluation will help you map your characteristics against those that define the successful entrepreneur.

Is It You? Ask yourself if you agree with the statements listed in the "Is It You?" section following each characteristic description. The more strongly you agree with the statements, the more closely your characteristics match those of the successful entrepreneur.

• Determined and Dedicated

Determination, dedication, perseverance, commitment– many consider these to be the most important of all the characteristics of the entrepreneur. In fact, strength in these areas can make up for many other areas of "weakness".

Starting a new business is never easy and these characteristics are necessary tools for those who persevere through the difficulties of start-up – the practical implications of which can put anyone’s dedication and determination to the test.

Is It You?

• I am prepared to make sacrifices in my personal life to ensure the success of my business. 
• I am prepared to take a cut in pay while I build my business.
• I am happy to work long hours to get a job 

"An entrepreneur must be prepared to spend long hours and be the last in line to collect dollars from a venture." Michael Mulhall

"There are lots of smart people in business, but the ones who succeed never give up. In business, perseverance is the key to success."Ron Connelly

• Optimistic Realist

Successful entrepreneurs combine natural optimism with a healthy dose of realism. They are very self aware and possess a keen sense of their own strengths and weaknesses. They are objective and can examine themselves and their ideas impartially. They know when they are beyond their capabilities and have no problem seeking help from experts. In pursuing opportunities, the entrepreneur is not fool- hardy or stubborn.

In fact, despite their dedication and determination, they will give up the pursuit of an opportunity more quickly than most if they perceive it will not deliver the promised benefits. This – combined with the fact that the entrepreneur possesses a keen understanding of their competitive environment and an intimate knowledge of their customers – means that entrepreneurs do not waste their efforts.

Is It You?

• I can admit my areas of weakness as readily as my areas of strength.
• I am comfortable asking for, and accepting, advice from people more experienced than I.
• I have a strong and intimate understanding of my future business and my potential customers.

• Resilient

Studies have shown that many successful entrepreneurs have had businesses that have failed in the past. This statistic speaks to one of the key defining characteristics of a successful entrepreneur: the ability to bounce back and respond positively to challenges.

Entrepreneurs do not take failure personally. In fact, for them there is no such thing as an unmitigated failure– every experience is a lesson and every challenge an opportunity. They quickly come to terms with a defeat and learn from their mistakes in order to ensure that the same problems do not reoccur. They have the ability to pick themselves up, dust themselves off, and begin again – armed with new information that makes them stronger and better at what they do.

Entrepreneurs meet change head-on. When they meet with failure, they are able to objectively analyze the situation and identify what should have been done differently. In evaluating how things should be done differently, they are creative thinkers: unconcerned with rules, hierarchy or how things have been done in the past.

Entrepreneurs have an insatiable desire to know how they are performing. Quantitative evaluation is more important to them than qualitative; they want to see sales figures and profit margins. They seek out constructive criticism from those they respect. They are good listeners and quick learners.

Is It You?

• I can accept failure without admitting defeat.
• When something does not succeed, it is very important to analyze the situation and what could have
• been done differently.
• I appreciate constructive criticism, and encourage it from people whom I respect.

"Trial and error are the ways of progress. A capacity to enjoy the trial and error adventure is a common characteristic of successful entrepreneurs."Grant Hooker

• Motivated and Motivating

Entrepreneurship has no built-in status and no guaranteed perks or income level. Entrepreneurs therefore are not motivated by status or money, but instead they have a high need for achievement.

Their greatest satisfaction is derived from the excitement and challenge of creating and building a business. For this reason, they are never content with the status quo and are not comfortable resting on their laurels. They always feel that things could be done better, more efficiently, more effectively — and they are constantly solving problems and improving their practices.

Entrepreneurs have a strong success orientation but it is their own definition of success that is important and that definition is a constantly moving target. They are not content with just being better than others; they want to be better than their own best results. They are action-oriented and want to begin achieving results immediately.

Successful entrepreneurs need not only be self-motivated, but must also be able to motivate others. They are visionaries with a clear idea of what they want to achieve. Because, as we have seen, they have little time for hierarchy, entrepreneurs can exert influence without a formal structure. They are able to inspire people to work towards a solution; they are skilled in conflict resolution.

They understand that a substantial business cannot be achieved by one person. Because they have a strong understanding of their own strengths and weaknesses, entrepreneurs seek out those that complement their skills — and inspire those people to become part of the team. They are hero builders: happy to reward members of their team by sharing credit for success and giving them more responsibility. After all, it is not status that motivates the entrepreneur.

Is It You?

• Perks such as company cars and expenses accounts are not important to me.
• Personal satisfaction is more important to me than being able to buy expensive things. 
• I believe that change is the one constant.
• I am always trying to better myself.
• I find it easy to get people to do things for me.

• Self-Confident and Self-Reliant

Entrepreneurs have tremendous confidence in their own abilities. They are optimistic and believe they can achieve anything. In fact, they believe that the impossible just takes a little longer to accomplish. They believe that they have been the most important factor in their own success and feel that luck (although welcome) has not been a major contributing factor. 

During the course of their lives, entrepreneurs have not been heavily involved in team or group activities. They do not have a great need for affiliation. They can get along with many different personalities but do not need to have a lot of friends. Their belief in their own abilities means that they do not need to seek approval in making decisions and they are comfortable with the fact that it is “lonely at the top”.

Is It You?

• I prefer to make big decisions on my own. 
• I wake up happy most of the time.
• I have made my own luck.
• I believe that every problem has a solution.

• Tolerant

As we know, there are no guarantees of success for entrepreneurs starting out.

In the same way that status and perks are not of great importance to them, they are not overly concerned with job security and retirement. They are tolerant of uncertainty and ambiguity.

There is a commonly held misconception that entrepreneurs are risk-seekers but this is not the case. Entrepreneurs are comfortable accepting moderate and calculated risk — and they deal with stress effectively. They are able to make decisions quickly under pressure but they exhibit the patience and exert the self-control necessary to maintain their vision.

Is It You?

• I am able to keep things in perspective in times of difficulty. 
• I do not take risk for the thrill of it.
• I enjoy working in a fast paced environment.
• I trust my instincts in decision-making.
• I do not spend a lot of time worrying about all the things that could possibly go wrong.

"Entrepreneurship is responsible risk-taking... the leadership of responsible risk-taking." John Kelly

• Integrity and Reliability

Integrity and reliability are the characteristics that are rated most highly among entrepreneurs as the quality that they most respect.

Trust is the single most important ingredient in building the strong business relationships that are key to success. Successful entrepreneurs are honest and forthright. They expect and reward the same from those they work with, both customer and suppliers.

Is It You?

• I believe that ethics and honesty are key ingredients to a successful business. 
• People describe me as being direct and forthright.
• I do not shy away from situations of confrontation.
• It is very important to me that I do what I say I am going to do.

While this section outlines what are commonly held as the key characteristics of a successful entrepreneur, weakness in some areas does not forestall success. As we outlined at the beginning of this section, many of the characteristics of the successful entrepreneur can be learned or acquired– and knowledge and understanding of your areas of weakness can help you improve.

"In business if you don’t dream of doing more, you’ll just end up doing more of the same." Jim Cummings