However, the fact that entrepreneurship can be influenced by some of the
traditional factors of economic growth does not necessarily rule it out as a
separate predictor of economic growth. If there is even one factor influencing
entrepreneurship not included among the traditional factors of economic growth
and entrepreneurship does have an effect on economic growth, then
entrepreneurship should be regarded as an additional separate factor of economic
growth. The reason for this is that, if entrepreneurship is affected by one or more
factors apart from the traditional factors of economic growth and entrepreneurship
has an effect on economic growth, then entrepreneurship is essentially acting as a
proxy for these other factors. Including entrepreneurship as an independent factor
of economic growth would thus ensure that the influence of these other factors on
economic growth was at least partly taken into account. There have been many
theories which suggest that entrepreneurship is indeed influenced by factors
beyond those traditionally thought to influence economic growth.