Entrepreneur: What It Means to Be One and Its Importance to Society

For so many years, the issue of job creation has been solely pushed as the government responsibility alone, and even with that, they have failed several times, which has indeed increased the rate of unemployment in our society today.

The rate of unemployment keeps on increasing on a yearly basis, especially in some African countries. It has been established that this has indeed increased the rate of poverty, together with the increase in population in those countries too.

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After taking all this into consideration, I came to the conclusion that Job creation should not just be the government's sole responsibility alone. Even after seeing how badly they have failed, it's significant that citizens who have good business ideas come Into action and reduce the rate of unemployment by creating jobs opportunities with their ideas.

Over the years, individuals who have helped the society with Job creation without depending on the government for fund's or start up capital are being referred to as entrepreneur, and their importance in the society can't be overlooked.

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Who's an Entrepreneur?

An entrepreneur is an individual who creates new business, bearing both risk and rewards at the same time. The process of setting up a business by such an individual is referred to as entrepreneurship.
Entrepreneurs play a major role in the economy by using their skills and initiative to anticipate needs and bring new ideas to the market.

They faced plenty of obstacles in the process of building their companies, such as overcoming bureaucracy, hiring talent, and obtaining financing. Even with all this, most of these individuals have used their ideas to train numerous people's, which has helped society and also made plenty of people financially independent.

What Makes Entrepreneur Important in Our Society

Entrepreneurship is one of the resources that economists categorize as integral to production; the other three that were talked about are land, labor, and capital.

An Entrepreneur combines all three when it comes to manufacturing goods and providing services. They practically create businesses, hire labor, acquire resources and financing, and also put in place leadership and management for such business.

There are numerous things to be pointed out as regard how important these individuals are in our society today. Let's look at a few points.

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Creation of new business opportunities

If there is anything that makes an individual an entrepreneur in society, it's their ability to create job opportunities in our society today. Economists categorize this set of Individuals as the most skilled individuals, considering the level at which they use their ideas to help others by providing means of saving them from financial crises.

They help to build and expand existing enterprises.

We talk about how essential they are when it comes to creating new job opportunities, but that's not all an entrepreneur does; they also help with innovative ideas that could help to build a running enterprise, for instance, modernizing production processes, implementing new technology, and bringing in new marketing strategies to help an organization go viral faster and global than ever before.

They help accelerate economic growth.

Entrepreneurs are significant to market economies because they also contribute to the economic growth of a country.

All this can be seen as they help by creating new products and services, create new employment opportunities and reduce the rate of unemployment in our community. There should be more regard for public opinion that gives room to entrepreneurship in our society today.

They're risk-takers in businesses.

It won't be well enough without talking about the level of risk this group of individuals takes, especially when venturing into new ideas.

They're always willing to take risks and search for new businesses with the aim of making profits, for me, I see them as catalysts of the free enterprise economy. They teach their trainees or employees the importance of taking risks while setting up a business.

Furthermore, they create Problems with Solutions at hand.

One of the important things about entrepreneurs in our society today is that they create Problems with solutions at hand,this individuals understand what society lacks or needs.

This set of individuals does enough research to understand the fragility of their environment and, in the process, provides services that will bring solutions to their environmental needs.

Conclusion

An entrepreneur identifies commercial needs in their society, sets up a business idea, takes the lead in starting such a business, examines every business opportunity around them, and duly identifies what the community needs most at a particular time.

Today when we talk of large, medium or small scale enterprise, we think of entrepreneur too.
This set of individuals understands what it takes to be financially independent, so they take in plenty of trainees and help them with ideas that can help them make better earnings in their community and also build them go be reliable Investor's.

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