What Is the Role of an Entrepreneur in Economy and Society

2. What role does entrepreneurship play in the economy? Who stands to gain from the success of individual entrepreneurs? How do other parties benefit? Entrepreneurship is the main ingredient for a healthy economy. Everyone stands to gain form a strong economy. With more people working the economy grows.

A) A real entrepreneur can take an idea and that can be change in to a service or product according to the needs of certain population. Because of this characteristic economists said that “entrepreneurship is becoming an important agent in the growth and wellbeing of the society”.an entrepreneur is motivated by family or society. They offer new completion and also promotes improved productivity. They can recognize and resolves social problems on a large scale. To create social value entrepreneurs act as a change agent for the society like designing and distributing new approaches. Entrepreneur react very quickly and effectively to the change so that they can take the advantage of opportunities. If they can’t capable of quick action it will be result on their process and success. Social entrepreneurs are stepping to solve the problems.

     The belief and implementation of free markets and pro-business policies have allowed the American nation to become the strongest country in the world. The entrepreneur is a special type of business person that is hurt by the livable wage. Our nation’s economy is diverse and adaptable because entrepreneurs are always willing to take risks to make money and stay competitive. Entrepreneurs act as the catalysts for the American economy. They take the capital risks to create new products,

History has shown that entrepreneurs have changed the way America conducts businesses decade after decade. In addition, they have continuously changed how businesses are operated and contributed to the general good of the country. Undoubtedly, entrepreneurs are important segments of the United States and the world have grown because of their creativity. Generally speaking, entrepreneurs have managed to help the nation during the economy downturns. For example, the machine called the reaper put a major boost in the United States economy during the 1831 (Greene, 2000). According to the author,

What role does entrepreneurship play in the economy? Who stands to gain from the success of individual entrepreneurs? How do other parties benefit?

Volkmann, C. K., Tokarski, K. O., & Grünhagen, M. (2010). Entrepreneurship in a European Perspective: Concepts for the Creation and Growth of New Ventures. Springer Science & Business Media.

In poor or developing countries people are more entrepreneurial than in developed countries out of necessity. In those countries, people have a constant need to earn a little more than what they earn from their regular employment. However, in the developed countries like the U.S., UK, and other industrialized European countries, entrepreneurs pursue business by choice. This is the reason why most of the largest enterprises come out of these

Despite the growth of activity that can occur in firms of any size, no countries are yet examining entrepreneurship in large, established firms. Canadian data and data from all other comparable countries are primarily available for smaller, newer firms. Accordingly, this section of the report presents data for the same type of new and growing firms described in the previous section, and compares Canada's performance on the same five key performance indicators: birth rates, death rates, survival rates, high-growth firm rates and gazelle

Millions of displaced employees are now being pushed to become entrepreneurs to make a living, with the United States becoming more entrepreneurial every day. This development reinforces the importance of analyzing economic forces before and during the course of any business.

The role of entrepreneurship in the economy of a country is to inspire new business ventures that support wealth

Entrepreneurship is related with the capability of recognition and evaluation of opportunities, allocation of resources and growth. Moreover, entrepreneurship has been taken as an organisational notion that contains three magnitudes: Modernisation, Bear risks and Practical alignment. It has been confirmed that the companies that were engaged in entrepreneurial activities are now most successful and efficient.

A real entrepreneur can take an idea and that can be change in to a service or product according to the needs of certain population. Because of this characteristic economists said that “entrepreneurship is becoming an important agent in the growth and wellbeing of the society”.an entrepreneur is motivated by family or society. They offer new completion and also promotes improved productivity. They can recognize and resolves social problems on a large scale. To create social value entrepreneurs act as a change agent for the society like designing and distributing new approaches. Entrepreneur react very quickly and effectively to the change so that they can take the advantage of opportunities. If they can’t capable of quick action it will be result on their process and success. Social entrepreneurs are stepping to solve the problems.

Entrepreneurs are a very, or perhaps the most, important boost in our economy. They do not only take the risk for the sake of a business, but also they provide our economy with employment opportunities and culture. A society can only be prosperous only when it rewards and encourages entrepreneurial activity because in fact, it is the entrepreneurs and their activities that are the critical factor for success, prosperity, growth and opportunity in any given economy. Entrepreneurship is not easy and it comes with its own risks and up and downs. On the last decade, entrepreneurship has rose and expanded, with this change and constant expansion, it has changed the rules of entrepreneurship once again. But I certainly believe that

An entrepreneur is someone who starts a new company to produce a product or service. An entrepreneur is usually a risk taker and an opportunist. Entrepreneurship is a positive change in our society. Entrepreneurship is combined with land, labour, resources and capital in order to make a profit.

They help in intensifying competition with the help of technology they master in increasing productivity and thus contributing in the development of the country, followed by economic growth.(Dr. Sangya Shrivastava 2013) Entrepreneurship has been given much emphasis by organizations and governments in recent years. It acts as a vehicle for small businesses. We can see the increasing level of economic development when more of the population gets involved in entrepreneurship which is basically self-employment. Entrepreneurship plays a critical role in the development of the economy as this is the key contributor to innovativeness and product improvement. It is one of the important ingredients to the creation of new employments and in the building of communities in ways of offering them jobs. By contributing to local charities, taking part in local business, investing in projects in communities, and creating and participating in different networks in entrepreneurship, they build up robust communities which contribute to the community development. Governments have struggled to develop policies which will enhance entrepreneurship by understanding the critical difference existing between small business owners and entrepreneurship. At the same time, a misconception about entrepreneurs and where entrepreneurs can be found can also help the local people to create the right picture of entrepreneurship and thus become aggressive and contribute to