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 i...