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  • 30th Mar'21
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Entrepreneurship has a large scale impact on economic conditions, business environment, and job generation in various countries. We can not deny the fact that entrepreneurs make a significant contribution to the country’s GDP and are often referred to as a national asset.

With the increase in population, it is very important to create jobs for people and entrepreneurs to help us with that. They tend to change the way we live and work and create perfect competition in the market which helps consumers get good services at a lower price.

What is Entrepreneurship?

Simply, entrepreneurship can be defined as the endeavor of creating, owning, and commercializing an idea, technology, product, or service, as well as assuming the risks and rewards associated with that enterprise.

Click on the following link to know more about entrepreneurship:

https://www.investopedia.com/terms/e/entrepreneur.asp(Text with Color Demo)


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When an entrepreneur becomes successful they inspire social development. They spend part of their income for the development of society, the welfare of the poor section of society, and inspire young people to work for them as well. Along with that, they provide jobs to skilled people.

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Entrepreneurs are the source of money for the government. The tax they provide is used for the development of the nation. Additionally, the spurs it creates in employment and higher earnings contribute to better national income in the form of higher tax revenue and higher government spending.

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Entrepreneurs are the source of money for the government. The tax they provide is used for the development of the nation. Additionally, the spurs it creates in employment and higher earnings contribute to better national income in the form of higher tax revenue and higher government spending.Entrepreneurs are the source of money for the government. The tax they provide is used for the development of the nation. Additionally, the spurs it creates in employment and higher earnings contribute to better national income in the form of higher tax revenue and higher government spending.Entrepreneurs are the source of money for the government. The tax they provide is used for the development of the nation. Additionally, the spurs it creates in employment and higher earnings contribute to better national income in the form of higher tax revenue and higher government spending.

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Entrepreneurs are the source of money for the government. The tax they provide is used for the development of the nation. Additionally, the spurs it creates in employment and higher earnings contribute to better national income in the form of higher tax revenue and higher government spending.


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Promotes Research and Development

As we know that research and development is the key tool for the growth of the business. The people's demands for new goods and services push entrepreneurs to do deep research and hence invest in research and development.As we know that research and development is the key tool for the growth of the business. The people's demands for new goods and services push entrepreneurs to do deep research and hence invest in research and development.As we know that research and development is the key tool for the growth of the business. The people's demands for new goods and services push entrepreneurs to do deep research and hence invest in research and development.

 

 

 

 

Sources/References:

*Note: The content published above was made in collaboration with our members.

About the author:

Rakshit saxena, Content Team

Professional Devloper,smart worker and always trying to learn new things



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