The work of an entrepreneur is very valuable. The functioning of the economy depends upon what kind of services and goods the entrepreneur delivers. People make avail of these services and goods and pay for them. This money adds to the national income of the country. The higher the number of goods and services provided for, the higher the per capita income within the respective country.
An entrepreneur is indispensable. Every economy requires his or her expertise and knowledge in order to make avail of services and goods to the consumer.
Importance of entrepreneur’s work
- The goods and service produced by him or her are of immense value to the consumer.
- The higher the productivity of the entrepreneur, the higher his or her contribution to the national economy.
- The expertise and technical know how of the entrepreneur leads to the industrial growth of the country.
- International trade takes place in the goods and services provided by the entrepreneur. The income received by such trade adds to the financial coffers of the economy.
- An entrepreneur provides employment to the citizens of the respective country he or she does business.
Role of an entrepreneur in the economy
The national economy depends upon the work output of the entrepreneur. The more investments an entrepreneur makes the higher his or her income contribution to the economy. The economic development of the country depends upon work output of the entrepreneur. Quality work by him or her means better economic conditions within the country.
The entrepreneur is an integral part of the economy. His or her work is very essential for the economy to run.