Why entrepreneurship is important ?
The formation of new businesses – what we usually refer to as “entrepreneurship” – is an incredibly essential component of this process of allocative efficiency. Why? Because new businesses enter the market to challenge established firms, products, and methods of production and distribution. They bring something new or improved and, in the process of doing so, their emergence promotes a more competitive environment. Entrepreneurs are the people who bring new innovation, ideas and modification in the society. They are the pillars of any society. They are the people who set examples, shares stories of courage and become a reason of hope for so many people. They are the drivers of the world. They bring a lot of new innovations like changing in technology and making of new unique products. If entrepreneurs don’t exist in this world. You see a world without new products. A world where people live without technology, a world without smartphones, tablets or laptops. These all new innovations are because of the entrepreneurs. They want to make new things. Usually, people who become entrepreneurs are those who don’t want to work under someone’s instructions. They are the people who are their own bosses. They are the people who want to introduce their own business. They are the people who make a significance.
1. The importance of entrepreneurship in developing countries:
developed country have a proper set up of jobs for people and a lot of businesses that become the reason for prosperity in the country while developing countries suffering from so many big issues like lack of jobs and businesses. So, entrepreneurship plays so many roles in developing countries. Entrepreneurship generates employment in the country. When funds mobile in a country it becomes a reason for capital formation. These 2 things lead to the balanced economic development. The growth of industries and business in these areas lead to a large number of public benefits like road transports, health, education, entertainment. Due to constant technological innovation, living standards of people changed and become better.
2. The importance of entrepreneurship education:
I think with marketing education, financial education, entrepreneurship education is really important for graduates and senior secondary school students. If they learn about marketing then in future they can market their skills and knowledge and will get good jobs. if they learn about finance in college then they can spend wisely and save more. Their savings can help them in future to start a business or to allow money to bring new money. And if they learn Entrepreneurship they will learn how to take responsibility, why to take responsibility for their own happiness and success in life and in the national development. And also they learn how to help others with your talent, skills, and product.
3. The importance of entrepreneurship to the individual:
With entrepreneurship, people become more confident and challenging. That is a positive change and reason of motivation for other people in the society. People start believing in himself and self-support. They bring new jobs and innovation in the society.
4. An importance of entrepreneurship in society:
When entrepreneurs become successful they spend most of the part of their income for social welfare. Like helping the blind, orphans, widow, education of poor people. They do charity and become a reason for someone's happiness. An entrepreneur sets up various educational, medical and vocational training institutions to provide the less privileged with benefits which they normally cannot afford. The fees may be less or waived in the case of a meritorious student. Hospitals are also run by these charitable institutions.
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5. An importance of entrepreneurship in economic development:
Due to entrepreneurs, GDP of any country increased. They play a vital in the economic development.
They generate mostly income of a country. Entrepreneurs setting up new businesses and industrial units help with regional development by locating in less developed and backward areas. They bring foreign investment in their home country. They put the very first block for the building of many important international projects in the country. When people are no more jobless than per capita income also increases. When entrepreneurs enter in international market it also starts the imports of the products from the other countries.
1. The importance of entrepreneurship in developing countries:
developed country have a proper set up of jobs for people and a lot of businesses that become the reason for prosperity in the country while developing countries suffering from so many big issues like lack of jobs and businesses. So, entrepreneurship plays so many roles in developing countries. Entrepreneurship generates employment in the country. When funds mobile in a country it becomes a reason for capital formation. These 2 things lead to the balanced economic development. The growth of industries and business in these areas lead to a large number of public benefits like road transports, health, education, entertainment. Due to constant technological innovation, living standards of people changed and become better.
2. The importance of entrepreneurship education:
I think with marketing education, financial education, entrepreneurship education is really important for graduates and senior secondary school students. If they learn about marketing then in future they can market their skills and knowledge and will get good jobs. if they learn about finance in college then they can spend wisely and save more. Their savings can help them in future to start a business or to allow money to bring new money. And if they learn Entrepreneurship they will learn how to take responsibility, why to take responsibility for their own happiness and success in life and in the national development. And also they learn how to help others with your talent, skills, and product.
3. The importance of entrepreneurship to the individual:
With entrepreneurship, people become more confident and challenging. That is a positive change and reason of motivation for other people in the society. People start believing in himself and self-support. They bring new jobs and innovation in the society.
4. An importance of entrepreneurship in society:
When entrepreneurs become successful they spend most of the part of their income for social welfare. Like helping the blind, orphans, widow, education of poor people. They do charity and become a reason for someone's happiness. An entrepreneur sets up various educational, medical and vocational training institutions to provide the less privileged with benefits which they normally cannot afford. The fees may be less or waived in the case of a meritorious student. Hospitals are also run by these charitable institutions.
.
5. An importance of entrepreneurship in economic development:
Due to entrepreneurs, GDP of any country increased. They play a vital in the economic development.
They generate mostly income of a country. Entrepreneurs setting up new businesses and industrial units help with regional development by locating in less developed and backward areas. They bring foreign investment in their home country. They put the very first block for the building of many important international projects in the country. When people are no more jobless than per capita income also increases. When entrepreneurs enter in international market it also starts the imports of the products from the other countries.
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