- Advertisement -
Home Entrepreneur 5 Ways An Entrepreneur Stimulates The Economy

5 Ways An Entrepreneur Stimulates The Economy

- Advertisement -

Ours is a consumer society now. Even in developing countries, consumerism is gaining ground. Developed countries anyway thrive on consumerism. Naturally, the role of an entrepreneur is of much significance in generating products valuable for the comforts and

the luxurious living of the people of a particular country.

An economy is much dependent upon the performance level of its entrepreneur. He or she plays a vital role in the growth of the national income as well as raising the per capital income of the people.



How does an entrepreneur stimulate the economy?

RELATED POST: 15 REASONS WHY YOU SHOULD NOT BE AN ENTREPRENEUR

  1. Investment – Then the entrepreneur has to invest in what is required for the economy. Economic progress will much depend on his or her contributions. Any entrepreneur will invest in products and services which the people need. His or her investment will ensure a better life for the people. More goods and services will be at their disposal.
  2. Employment – An entrepreneur by setting up various businesses and establishments is generating employment in the economy. People need jobs. This is a major contribution that an employer can make to provide income to an employee who can meet his or her needs.
  3. Diversity in products and services – An entrepreneur can provide various types of goods and services to the consumer. The latter has much to choose from. A consumer, after all, would like to have a good bargain, and if his or her choices are more than he or she can get these products or services at reasonable rates. Also, personal desires are met if there are products and services to choose from. A person may like a particular type of tie and he can perhaps locate it in his local market. His desire to purchase a tie of his choice is thus met.
  4. International trade – An entrepreneur promotes international trade by selling his or her products abroad. Any entrepreneur would like a wider market. If there are more consumers to purchase his or her products, the higher his profits.
  5. Contributes to gross national product An entrepreneur makes many contributions to the national exchequer and to the national economy as a whole. The GNP of the country is calculated based upon the total number of products and services available in a respective country. The more products and services are available the higher the GNP. It indicates the economic prosperity of the country.

RELATED POST:  8 LIFE LESSONS STARTUP ENTREPRENEURS FOUND OUT THE HARD WAY

The entrepreneur is essential for the economic development of a country. The progress of a country will depend upon his skill and talent as well as hard work to deliver the necessary goods and services required by the citizens of his or her country.

Article Written by  Amitabh Shukla | Indian Business advisor 

- Advertisement -
- Advertisement -

Must Read

SIGNO: India’s first launched AI-Driven Blue Collar sourcing in 60 seconds

As termed as a developing market economy, India is trying its best to cover all the aspects it needs to have so as to...
- Advertisement -

Should A Robot Mop Be The Next Addition To Your Smart Home?

Cleaning is a task that everyone can do without; it takes time out of your day and uses up energy that could be put...

Is Now the Time to Consolidate Your Debt?

Interest rates hit a new low, which has led many to consider consolidating their credit card debt to save money. However, each person must...

How to Start an Online Store with No Money?

Online shopping is catching up faster over a decade because it allows customers to order a variety of products easily. It provides opportunities for...

Related Category Posts

What Are the Applications of Sodium Lignosulfonate?

Lignosulfonate, abbreviated as LS, is a water-reducing additive used in a concrete mixture. It is yellow-brown wood pulp obtained from the bamboo pulping process....

What are the five steps of the risk management process?

Every company has to go through some risks in the operations that require more attention to overcome them effectively. An organization should evaluate the...

What is the future of cybersecurity?

The number of people who use digital platforms is increasing day by day due to technical innovations. However, they face cyber-attacks from hackers and...

How to Stay Safe Online- Starting Today

There are so many scams, malware and hacks out there right now, and this can all make the internet seem like a very dangerous...

What is business interruption insurance and how does it work?

There are a few words that every small business owner barely tolerates to hear: “there was a fire in the kitchen” and “the restaurant...
- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Select Language »