Entrepreneur is one who takes the initiative to have a business of their own. It is one who can identify opportunities, and turn them into a profitable organization.
Entrepreneurship plays an important role in the development of society. Observing the demands of the industry in which it is intended to act is the first step to achieve the expected success. This way, consumers will recognize your business as a solution, and makes it easier for them to gain the trust. You can target audience, and secure much desired financial return. A state with developed entrepreneurship can play a vital role by exporting excess products from the country, and sending them for sale. This increases the country’s income, its status in the world market.
Social and economic responsibility:
Besides being synonymous with new opportunities for those who invest in the company, the act of entrepreneurship represents the generation of more jobs and better income distribution. In this way, the initiative of many innovative professionals becomes responsible for a portion of the economy. But, entrepreneurship doesn’t just mean starting a business that can make a profit. In fact, to achieve this result, the company has to present competitive differentials that guarantee its space in the market. And, one of them is the commitment to social development.
Many established organizations are already aware of this responsibility and adopting attitudes focused on protecting the environment such as treating waste before disposal, and planting trees to reduce their “ecological footprint”. But there are also those individuals who see their own social difficulties as a chance to develop their entrepreneurial career. This is the case of associations that work with the recycling of materials, and provide both a financial reward to the members, and a positive social and environmental return for the whole society.
Sustainable Entrepreneurship:
Identifying, creating and exploring new business options that can deliver profit from solving social and environmental problems is the main goal of this type of entrepreneurship. The concept aims to implement measures that reconcile technological advances to the preservation of the environment and people’s quality of life.
The sustainable entrepreneur is well aware that his company depends on these two factors, people and nature, to survive. Therefore, it feels an obligation to contribute to society and the environment.This sustainable vision gives the organization a more responsible image, and ensures a great competitive advantage for the enterprise. Since current consumers are very concerned about the companies’ social and environmental performance.
Conclusion:
In addition, Entrepreneurship plays an important role in the country’s economy. It affects the entire economy, and its presence is required. With the help of it, new technologies appear, various industries develop, and the economy of a country can flourish. So, entrepreneurship is an independent initiative of people aimed at making a profitable business or any personal income, carried out on its own behalf, on its own responsibility, or on behalf of, and under the legal responsibility of a legal entity, that is, a company or enterprise. In order to learn more about why Entrepreneurship Is Important to the Economy you should follow the experts like Kevin Hobbs Vancouver and others. Kevin Hobbs is the CEO of The Vanbex Group & Vanbex Labs, a blockchain based firm based in Vancouver, Canada.
