Question

What role does entrepreneurship play in the economy? Discuss how globalization is affecting entrepreneurship in the United States. With competition from so many multinational companies, do you think there are still opportunities for entrepreneurs? Why or why not?

Answer 1

Sokution:-
Entrepreneurship plays a huge role in the economy right down from your local grocery shop or butcher to big business ventures like Uber etc. Every big company existing in the world such as Apple, Google, Microsoft, etc. all started as a result of entrepreneurship.

Globalization has had positive as well as negative effects on entrepreneurship. On the positive side it has opened doors to opportunity in the form of trade, new technology, investment etc. but at the same it has increased competition and more players have entered the market making it harder for small startups to survive. But on the whole I feel globalization has had a positive effect due access to larger global markets and more demand. This has been proved by various success stories such as Uber, Fitbit etc.