Entrepreneurs and the World of Business

Entrepreneurs and the World of Business
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Institution

Entrepreneurs and the World of Business
Entrepreneurship plays an essential role in the development of the economy of nations because it is a significant contributor to the improvement of products, innovation as well as reducing poverty and unemployment. It is mainly the act of starting a business venture to make a profit on new opportunities, and it goes a long way to the stabilization of a nation’s economy and generates enormous returns. Entrepreneurs are assets in a society and are meant to be motivated and cultivated to the most significant possible extents. They can change how people work and live, and their innovations can generally improve the standard of living for the people as well as create wealth with their ventures. They also generate employment and set a conducive environment for the society to prosper (Ogunlana,2018).
Due to the benefits of entrepreneurship to the growth of the economy of nations, it is steadily growing around the world. More countries value entrepreneurs and work towards developing them further and further. They are significant assets for the economy of every nation. This trend will undoubtedly continue, and there is no sign of entrepreneurship subsiding for any reason. What every country wants, is to grow economically, and this is what entrepreneurship helps them to realize so there is no sign of its subsiding. Some of the reasons why people want to be entrepreneurs include the independence that their own bosses have, the need of pursuing own ideas, and the urge of seeking financial rewards (Carter et al.

,2003). The reason that describes a person’s choice of becoming an entrepreneur best of all is the reason for becoming a boss to make own decisions without having to consult with anyone or waiting for directives from another person.

References
Carter, N. M., Gartner, W. B., Shaver, K. G., & Gatewood, E. J. (2003). The career reasons of nascent entrepreneurs. Journal of Business Venturing, 18(1), 13-39.
Ogunlana, F. (2018). THE ROLE OF ENTREPRENEURSHIP AS THE DRIVER OF ECONOMIC GROWTH.