Question

Why is it important to be an Entrepreneur?

Answer 1

The creative way of establishing a new business that has immense potentiality of development, creating wealth and growth is entrepreneurship. The person engaging in this work is entrepreneur.

Entrepreneurs are important because of the following grounds:

#1) new thinking and innovation: they have innovative minds which are useful in business. The new way of doing business is always gets competitive advantage in market. Suppose the online study and question-answer platform is a new thinking.

#2) community development: it helps community (society) by proving more comforts and living standards; such as online study saves time and eliminates the risk of getting infected through group study.

#3) National income: it increases national income. Since the business is attractive, its revenue earning increases, which increases national income.

#4) Tax revenue: more earning gives more tax revenue income to the government.

#5) Self-employment: entrepreneurs are in self-employment. It reduces pressures in the job market. If people become entrepreneurs, the unemployment rate would be low.