Speaking of solving a problem, you checked to see if there’s an app for that? Perhaps you’ve already begun to create a business model and the software architecture to see if it’s feasible. No one ever said it was easy being an entrepreneur. Entrepreneurship, is the process of designing, launching and running a new business. It has been defined as “…capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit.”
Entrepreneurial development today has become very significant; in view of its being a key to economic development. Objectives of industrial development, regional growth and employment generation depends on this.
- They create new businesses: Frequently thought of as national assets, Entrepreneurs change the way to live and work. New ventures always results in new employment, which cascades in upgrading the economy.
- Add to the national income of the economy: New ventures generate new jobs which in turn radiates new wealth. Hence, higher earnings contribute to better national income in the form of higher tax revenue and Government spending.
- Acts as a medium to create social change: Innovation is the key. Through their unique offerings, Entrepreneurs have the capacity to dissolve the dogmatic way of living and indirectly support freedom by making lives simpler. In short, it results in an improved lifestyle, economic freedom, etc. E.g. smartphones and their apps. It has an impact on the entire human race.
- Helps in community development: Entrepreneurs often nurture light minded people and invest in community projects and provide financial support to charities. It enables further development and growth in terms of their reach.
An Entrepreneur enables benefits across a broad spectrum of the economy. There is no ceiling as to what they can do, hence an entrepreneur can always create an impact.
Now with the help of PM Mr. Modi’s ‘Startup India, Standup India’ initiative, entrepreneurs have been accessible to better policies. This entire ecosystem will enable knowledge exchange and access to funding with simpler processes and also tax redemption for the initial 3 years.
Entrepreneurs, it’s time to roll out the hidden talent in you and go achieve your dreams..!
Originally published at iauro.com on March 17, 2016.