Importance Of Entrepreneurs For The Economy

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Importance Of EntrepreneursFor The Economy
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Create New Business Ideas
Entrepreneurs help to create new businesses and
offer path-breaking ideas. Their ideas and hard
work provide new jobs and has a cascade like
effect on the economy. From the lowest rung to
the upper areas, they bring about a change for
the economy.
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Add To The National Income
The ventures of the entrepreneurs help generate
new wealth as they offer newer and improved
offerings. Increased earnings and higher
employment result in better national income
through increased tax revenue. The Govt. then
invests this money into additional financially
weaker areas.
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Help Bring Social Changes
As a result of their newer ideas, entrepreneurs
employ newer technologies and systems. This
causes an improvement in the quality of life and
increases morale as well as economic freedom. As
an example, it is known that technological
entrepreneurship has a long lasting effect on the
human race.
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Help Develop Community
Entrepreneurs nurture other entrepreneurs like
them and so, in a way develop the community they
are in. They invest quite a part of their
incomes in community projects as well as in
charities. There are many great entrepreneurs
who have invested in communities.
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