ENTREPRENEURSHIP

Detailed explanation-1: -Entrepreneurs boost economic growth by introducing innovative technologies, products, and services. Increased competition from entrepreneurs challenges existing firms to become more competitive. Entrepreneurs provide new job opportunities in the short and long term.

Detailed explanation-2: -Entrepreneurs create new businesses, which in turn add to national income via taxation. New businesses create new, innovative ideas that could create things that help people in their everyday lives. If you become a social entrepreneur, your business will have a direct, positive impact on society.

Detailed explanation-3: -All business ventures aim for profitability. Owing to the high-risk/high-reward scenarios of entrepreneurial ventures, entrepreneurs expect to make substantial profits, provided that they plan their activities carefully and meet their objectives effectively.

Detailed explanation-4: -An entrepreneur gets things done and loves to be competitive in the process. A true entrepreneur is not predictable, one that possesses a certain creativity level that allows one self to see and produce “ahead of the curve”. However, without strong people skills, an entrepreneur cannot be successful alone.