Effects Of Entrepreneurship On The Economy

Rough Draft

Entrepreneurship and how it affects the economy

Entrepreneurship is great for the economic growth of one country. The numbers of entrepreneurs in one country have a correlation of the wealth of the country as it generates cash flow and creates jobs opportunity it also increase competition in the market. All this benefits the economy of the country and is the essence of capitalism. Entrepreneurs are responsible for a huge part of the small business sector and the small business sector is a huge industry by itself.

Entrepreneurship contributes to social wealth by creating new markets, new industries, new technology, new institutional forms, new jobs and net increases in real productivity. Increases in wealth in return will help government

But a significant part of any successful entrepreneurial sector or locale is the dense set of relationships that help entrepreneurs tap expertise, resources, and support. For instance, in Kuala Lumpur, a student run incubator group called VentureSense performs surveys and experiments to support startup ideas so that they can be started with less risk and successfully run if they launch their project.

Education

It is important for people to be educated to know about first the general economy, second about financial intelligence and third about the cashflow quadrant.

The education system could play a big part in this, not only by equipping students to be great employees, but also to create business owners and entrepreneurs that drives the economy in a positive way . School should be teaching the essentials of entrepreneurship such as writing a business plan, pitching to investors, registering a company, and economics knowledge skills and other necessary

Talk about how they are sometimes double taxed, tax breaks for startup companies could help foster growth in economy.

Cultivate Promising Talent

It could be helpful to encourage school organizations to create positions that enable teachers to gain business skills and explore entrepreneurial paths. Although some individuals with considerable. Entrepreneurial potential certainly do enter K–12 as teachers, the teaching job offers few opportunities for them to develop their entrepreneurial skills. The creation or subsidization of hybrid jobs would allow these individuals to continue to work part-time as classroom teachers, while building skill sets and gaining experience in non-classroom contexts. This would permit educators to explore alternatives and gain diverse experiences, while reducing the pressure on energetic and highly capable young teachers to decide at a young age whether to become an administrator or leave education. Such positions would allow potential entrepreneurs to undergo some seasoning, connect with like-minded individuals and potential mentors, and get a taste of an alternate career path.

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