July 17, 2024


Me And My Business

Entrepreneurship Development

Entrepreneurship Development

Who is an entrepreneur?

An entrepreneur is someone who manages and organizes any form of business. Who has the capability to take initiatives, motivate others, work in a team, and become a leader. He is a man who starts his own venture not seeking for a job but providing many people a hope of life.

Why Entrepreneurship?

Entrepreneurship plays an important role in case of economic development of a country. A lot of problems of our country would be solved if people will start considering entrepreneurship as the first option for their career.


One of the greatest problems of our country is “Unemployment”. Let’s see how entrepreneurship tackles with this problem.

Current employment opportunities can only cater 5 – 10 {bcb10712eadb32c7e50a15bcbfb14ed4d7108a9fa2a5dcafffbff4bd1d9a4f28} of population. Entrepreneurs generate employment both directly and indirectly, directly by self employment as an entrepreneur and indirectly by starting many industrial units where they offer jobs to millions of people. Thus entrepreneurship is the best way to fight with the evil of unemployment.

National Income

National Income consists of the goods and services produced in the country. The goods and services produced are consumed within the country and can also be exported to other countries. The domestic demand increases with increase in population and increase in standard of living. The export demand also increases to meet the needs of growing imports due to various reasons. An increasing number of entrepreneurs are required to meet this increasing demand for goods and services. The manufacturing rate of any developed country lies between 60{bcb10712eadb32c7e50a15bcbfb14ed4d7108a9fa2a5dcafffbff4bd1d9a4f28} – 70{bcb10712eadb32c7e50a15bcbfb14ed4d7108a9fa2a5dcafffbff4bd1d9a4f28}. But unfortunately in our country this rate is below 40 {bcb10712eadb32c7e50a15bcbfb14ed4d7108a9fa2a5dcafffbff4bd1d9a4f28}. If you want to become a great entrepreneur or want to do something for your motherland, become a manufacturer not just go for a service industry.

Dispersal of economic power:

Industrial development normally may lead to concentration of economic powers in a few hands. This concentration of power in a few hands has its own evils in the form of monopolies. Developing a large number of entrepreneurs helps in dispersing the economic power amongst the population. It may help in weakening the harmful effects of monopoly.

Better standard of living:

Entrepreneurs play a vital role in achieving a higher rate of economic growth. They are able to produce goods at lower cost and supply quality goods at lower price to the community according to their requirements. When the price of of the commodities decreases the consumers get the power to buy more goods for their satisfaction. There is a great demand of such entrepreneurs who can make this thought possible.

Creating solutions for society :

An entrepreneur is a person who creates solutions not only for the problems of his business but for the whole society. Entrepreneurs play a key role for innovations and creative ideas that solve different problems in the world with the efficient use of technology. What is needed? or desired should be created with appropriate use of technology. This gives a clear thought of “Creating solutions with technology!”

The benefits and needs of entrepreneurship is endless. The greatest demand of today’s world is simply “Be an Entrepreneur!” that will solve economic problems of your family, your society, your people and your country. Let’s create wealth,not just seek for a salary.