Need And Scope Of Entrepreneurship || Future In Entrepreneurship

Need And Scope Of Entrepreneurship

So you want to become an entrepreneur. You have skills, you have the knowledge, you have business ideas, you have the spirit to do something, but do you know what is the need and scope of entrepreneurship? If no then you should read this article till the end. You will know about the future in Entrepreneurship.

The need for Entrepreneurship –

Entrepreneurship contributes to the economic growth of a country, not just starting a business or running it well. Innovation, job creation, and improved economic performance are the most essential requirements of entrepreneurship.

So let us now read its requirements in detail: –

This is the lifeline of a country: – No country can progress without the development of entrepreneurship. All countries want to increase their trade but this is not possible without entrepreneurship. It makes the country’s economy better.

It provides innovation: –

Entrepreneurship is what provides new ideas, imagination, and vision. An entrepreneur is an innovator who discovers new technology, product, and market. That very essence increases the productivity of resources. An entrepreneur is the centerpiece of the growth of the economy. And it enhances the economy by implementing new ideas.

It provides employment through: –

Unemployment is very high in a country like India because the population here is very high. A lot of people get jobs through entrepreneurship, which reduces the problem of unemployment. It provides entry-level jobs to provide training or experience for unskilled workers.

Small enterprises are one sector that generates a large proportion of total employment every year.

Through this, there is a change in society: –

New goods or products raise the standard of living. Because they provide good service at a low price. Due to which the poor people present in society also get their benefit and their standard of living improves. So we can say that this increases peace and prosperity in society.

Scope of Entrepreneurship –

India is a very young country and the pace of India’s economy is also good. There are currently 40 crore people below 35 years in this country.

The scope of entrepreneurship is very tremendous in a developing country like India. There is a lot of unemployment in this country because the population is increasing day by day. According to the Labor Bureau report, the employment rate was 5% in 2015-2016, the highest in the last five years.

Along with this, there are even stronger reasons for choosing Entrepreneurship as a career by the younger generation. Which are as follows: –

People are ambitious and want to see their future as they wish. That is, they do not want to do anyone’s job.
There is more profit in entrepreneurship. A fixed salary is available in the job while we can earn a lot of money on it.
The country is suffering from the problem of unemployment and other career options are also very few.
People want to take entrepreneurship to a greater level.

The government is promoting entrepreneurship like: – make in India scheme.

Entrepreneurship provides employment and is a good source of people’s earnings. Those who are small entrepreneurs help a lot in the economy of a country. The Government of India also does a lot of programs for entrepreneurs and supports them financially as well, like the government now gives many loans.

The government of India, the State Government, and various countries are also supporting entrepreneurship through many schemes and programs. Nowadays education is taught in every college and school about entrepreneurship.

Thus, a huge movement for the development of entrepreneurship has started in the country and is expected to gain great momentum in the near future.

We hope you have liked this article written on “Need And Scope Of Entrepreneurship”. We hope now you are clear about your entrepreneurship journey. Please share this article with your friends and social media platforms. If you have any questions and suggestions you can write in the comment section.

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