An entrepreneur is considered to be the national assets to be cultivated, motivated and remunerated to the greatest extent possible. They have the potential to bring a revolution in the way which we love and work. In short, in addition to creating wealth from their entrepreneurial ventures, they also create jobs and the conditions for a prosperous society. Below are mentioned some of the major reasons which tell us about how entrepreneurs help the economy in growth:
Entrepreneur Create New Businesses
Entrepreneur offers a lot, in the form of new goods & services, result in new employment. The stimulation of related businesses or sectors that support the new venture adds to further economic development.
Entrepreneur Add to National Income
Entrepreneurs offer new and improved offerings, products or technologies which enable new markets to be developed and new wealth created. Also, increased employment and higher earnings in form of higher tax revenue and higher government spending contribute to better national income.
Entrepreneur Also Create Social Change
Offering something unique like new goods and services, entrepreneurs break away from tradition. They indirectly support independence by reducing dependence on obsolete systems. And technologies resulting in an improved quality of life, greater moral and economic freedom.
Entrepreneurs regularly nurture entrepreneurial ventures by other like-minded individuals. They also invest in community projects and provide financial support to local charities. This enables further development beyond their own ventures.
Entrepreneurial skills are something which can be learned from some of the leading entrepreneurs in India.
To list of the known name, Jignesh Barasara who is one of the Directors of AlphaMD. Had all the motivation required to become a successful entrepreneur and has hence been able to reach heights in his career today. The organization AlphaMD Private Ltd, provides life sciences and analytics services to the clients in the pharmaceutical industry. The company focuses on providing end to end integrated services to the pharmaceutical organization. And enables them to focus on their core work by being their partner providing technical know-how and subject matter expertise.