Notes- Benefits of Entrepreneurship

Benefits of Entrepreneurship

In response to economic development at this time, ability and stamina required in responding to these developments is very significant. This capability would be expected to support or at least able to change the pattern of someone living in the meet the needs of their claims. They must think how to create employment or at least get a job in the plans to continue his life. To support all that, we are required to understand about entrepreneurship.

Entrepreneurship is the way of identifying opportunities, creating many job opportunities. Entrepreneurship is often difficult, young entrepreneurship often fail when they do not have a strong foundation related to the education and business capital.

A person, who is willing and able to convert an idea or invention into a successful innovation, is regarded as an entrepreneur. Entrepreneurship forces "creative destruction" in the market and industry, as well as create new products and business models. In this way, the damage is responsible for the creative dynamics of the industry and in the long-term economic growth.

Entrepreneurship is about taking risks. Reflects the behavior of the kind of person who is willing to put his career and financial security and take the risk on the idea, spent much time and capital on a certain business.

Entrepreneurship is widely regarded as important players in the business, particularly as the engine for job creation and economic growth. Young entrepreneurs have claimed many characters, has an enthusiastic vision, with persistence and determination, then the employers develop strategies to change the vision into reality. One needs the inspiration, motivation and fine.

Every successful businessman will bring benefits not only for himself but for the city, region or country as a whole. Benefits that can be taken from entrepreneurial activities are as follows:

·         Benefits of personal finance

·         Self-employment, offer a more satisfactory work and the flexibility of the labor force

·         Further development of the industry, especially in rural areas or regions disadvantaged by economic change, for example, because the effects of globalization

·         Processing materials into local goods so for domestic consumption and for export

·         Income and increase economic growth

·         Competition is healthy so that encourage high-quality products

·         More goods and services available

·         Development of new markets

·         Promotion of modern technology in small-scale manufacturing is higher to increase productivity

·         Freedom from dependence on the work offered by other people

Entrepreneurship given the potential to support economic growth and social, it is the goal of various government policies to develop a culture of entrepreneurial thinking. This can be done with a variety of ways: by integrating entrepreneurship into the education system, legislating to encourage risk taking, and the national campaign.

This phenomenon is by Kauffman.org, working to better understand the phenomenon of entrepreneurship, the level of education and entrepreneurship training to promote entrepreneurial business-friendly policies, and to facilitate the commercialization of new technologies by entrepreneurs and others, which is very promising to improve the economic welfare of the nation.