Entrepreneurs: Why They Are So Important And Why We Need Them

Simply put, entrepreneurs are the innovators that stimulate job growth, economic growth and development that allows Americans to compete with and in the global economy. Entrepreneurs are vital to the future of our economy. Entrepreneurs have an attitude and behavior that benefits local communities and advances human welfare.

Who is an entrepreneur?

An entrepreneur is an individual who organizes and operates a business or enterprise, taking on the financial risks to do so.

That may sound simple, but let's take a closer look...

One of the most important things that entrepreneurship provides is employment. The unemployment rate has been at historic levels but recently there has been job growth. We feel that a big part of that job growth is due to the rate of starting small businesses. Entrepreneurs create fresh small and large-scale employment opportunities; as the business grows so do the number of employees. Entrepreneurs significantly reduce the problem of unemployment.

Entrepreneurs have changed the way we live, the way we do things. Their innovations have made life easier and increased the standard of living. Most entrepreneurs start their businesses because they wanted to do something they love, or were inspired by an idea they truly believe in. The positive effects of working in an environment that's important to you paves the way for innovations and advances in technology that increase economic development for our country. And on a much larger scale, when production of these good spreads worldwide, they make us competitors in the global economy.

Entrepreneurship is often called "economic gardening." It's a foundation that can continue to grow and year after year provide wealth to a community. Local communities benefit greatly from small businesses by tapping into existing assets and strengthening it socially and economically. On the whole, entrepreneurship has the potential to increase the wealth of communities.

Entrepreneurship is an exciting venture, and can quite literally change a person's life. There are so many great advantages to taking on such a project. To start a business you need motivation, talent and desire. You also need a strong business plan based on solid research. Entrepreneurs are capable of starting and growing a successful small business with the proper amount of education, hard work and experience.

If you have a business plan and want to become an entrepreneur, we can help you. A lot of important decisions need to be made when starting and nurturing a new business. We will use our education and experience with numerous others just like you to guide you in the formation and growth of your business. The foundation of a business is built on solid contracts and agreements. As business attorneys, we can draft contracts that will help protect your assets and help keep you out of court.

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7 Reasons Why Entrepreneurship Development Must Be Massively Supported

Entrepreneurship happens to be a subject I am very passionate about, right from age 15 till date. The challenge of building businesses from scratch, negotiating deals and investing in other people's business thrills me. Since the age of 15, I have been devoted to the lifelong study of entrepreneurship and investing. But even as an experienced entrepreneur, I still look up to my mentors for guidance and inspiration.

Now let's proceed with the business of the day. The word "Entrepreneurship" might sound unimportant or common to your ears, but I will advise you spend a little time on this article and get the tits and bits of what I am about sharing. The word entrepreneurship suggests several meanings and if a poll were to be conducted, I bet we will come up with 101 definitions of the term entrepreneurship.

Now what is entrepreneurship? According to Stevenson, "Entrepreneurship is the process of creating value by pulling together a unique package of resources to exploit an opportunity". It can also be said to be the readiness and skill of either an individual or group of personalities to sniff out investments opportunities, start business ventures and run enterprises successfully. But the definition I find thrilling is still that of Howard Stevenson, a college professor, "entrepreneurship is the pursuit of opportunity without regards to resources currently controlled". I feel this definition is the best so far and I thank my mentor, Robert Kiyosaki, for bringing it to my notice. So if the term entrepreneurship is now clear, then you may ask, "Why stress the need for entrepreneurship development? Well, entrepreneurship development must be massively supported because it has the potential to achieve the following:

1) Create jobs through the formation of new business ventures.

2) Utilize available manpower and resources that might have remain idle and put them into productive use.

3) Entrepreneurship development makes it possible for individuals to create wealth, independence and status for themselves.

4) Stimulates growth in other sectors with increase in demand and supply.

5) Increases productivity by means of innovation.

6) Facilitate and increase the need for technology.

7) Boost the economy and increases the nation's GDP. 8) Entrepreneurship development can reduce dependence on social security and Medicare. With this few points, I hope I have been able to throw more light on the need for individuals to embrace entrepreneurship as a way of life and a means to better the society. Join the entrepreneur's train and I will see you at the top.

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