The Role of Entrepreneurs in Social & Economic Growth

According to you who are entrepreneurs? Do they really help in social and economic growth? If yes, how they are responsible for social development? Today with help of Carl Kruse we will go to understand how the role of entrepreneurs is leading to the growth of our society and economic.

An entrepreneur according to Carl Kruse, is a person who takes initiative or one who come up with an idea that helps to create new jobs. Encourage society and disperse wealth because of new products or services that are introducing into the market. This gives great impact to each and every individual as some ways or the other, we all get correlated. For example, with the introduction of Uber rides it gave great impacts on an auto rickshaw and local buses. Whereas millions of people got job car driver to make that Uber ride possible.

Here are few points that will go to conclude the role of entrepreneurs in social and economic growth and these areas:

Investment

We all are well aware that any start-up involves lots and lots investment that are provided by entrepreneurs to set an economy. The investment i.e. carried out by entrepreneurs in form of products and services, which they will go to introducing to the people. This involves a lot of funding i.e. carried out by the other investors in form of shares to particular start-up.      

Employment

Any business start-up requires human resources that could fulfill the demand of the company thereby making earning for them self. Thus it’s very much important for an entrepreneur to seek a maximum number of employee to work that could help each other in vice –versa manner. Hence it proves that with each new startup by entrepreneur more and more people will get employ.       

Variety in products and services

When we reach to market we always find that each time new products and services are add in your supermarket. Might some products have their alternative or some new innovation has been introducing? It true according to the definition of entrepreneur that they will come up with new products and services each time.   

Contributes to gross national product

Gross national products (GNP) plays a very important to determine the economy of a country. As GNP of a country is deciding by the number of products and services i.e. introducing in the respective country. So as the number of products and services increase by entrepreneur the GNP also increases of the respective country.

These are the few points that are highlighted by Carl Kruse to explain what all role is played by an entrepreneur to help in social and economic growth.