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mples of policies that empower entrepreneurs to be creative and take risks.

The accomplishments of entrepreneurs in our modern world have been possible because of a climate of individual freedom that is so rare in human history. The society that does not honor entrepreneurial accomplishment will find fewer able people engaged in wealth creation. History has shown time and again that economies that appreciate the benefits created by entrepreneurs flourish, while those that devise laws and regulations aimed at seizing the entrepreneurs' rewards founder. [8]

An entrepreneur takes risk and only sometimes does it pay off. Without any risk takers, the construction industry would not move forward. An entrepreneur would perhaps buy a plot of land, and develop it, not only to they boost the construction industry they also employ people to work for them. Therefore, entrepreneurs can enhance the production of a construction project.

Task 2

In the construction industry there are three main markets; public, private and third sector. Each of them has their own ways in benefiting the construction industry.

Generally, during any recession public sector investment tends to run counter cyclical to private sector investment (as government attempt to soften the blow of declining levels of private investment), although this is largely dependent on the state of public Finances. The residential and commercial sectors in the UK are likely to be the hardest hit, particularly any speculative building.

However, it should be noted that the sectoral impact of this recession is likely to be slightly different to past experiences, largely because of the effects of PFI. Much public investment is now reliant on private sector financing and this is clearly going to have an effect on the public sectors ability to deliver projects and hence their potential to influence the marketplace.

On the other hand, infrastructure activity increased strongly through 2008 as a number of major projects got on site and this growth is expected to continue through 2009. In contrast the outlook for industrial construction is very negative, with manufacturing output in free fall during 2008 and with little hope of a recovery during 2009.

Infrastructure demand in London saw the fastest expansion. Another major project to be awarded in 2009 in the UK was CrossRail, with a budget of $30 billion; construction is due to start in 2010. CrossRail, along with the 2012 Olympics, could make the South East of England something of a hotbed of construction activity. However, both projects are not likely to be enough to offset the declines in the property sectors and UK construction spending is expected to decline significantly for the first time since the recession in the early 1990s. [9]

From the graph above we can see that the public sector is more consistent than the public sector. The public sector had a large decrease when the rescission hit, this is due to the fact that private sector is independently funded where as the public sector is funded by the government which uses the tax-payers money.

The third sector is also funded by the government, but they are non-profit making organisations. Non-profit making organisations tend to help the local area or community and all surpluses are not distrusted but it is put back into the company to help it grow and