WHY ENTREPRENEURSHIP IS IMPORTANT?

Entrepreneurship is considered one of the biggest assets in the modern economy. Many governments are promoting new innovative ideas from creative minds. They proved to be worthy of today’s problem solver. Great entrepreneurship minds have the ability to make a change in the perspective we see and do things.  They are actually the solution finder of today’s world. They tend to work and think more about present scenarios and always find a new solution to overcome it. Their great mindset contributes not only to the wealth and revenue of the country but also on improving the standard of lifestyle, creating a lot of job opportunities and thus contributing to the greater goods.

Many sectors benefit from the innovations created by entrepreneurs. Even if we take many IT industries in the past, we can observe very clearly how much all these small scale sectors have grown. Call center operations, network maintenance companies and hardware providers flourished. All these providers benefitted a great deal in those times even now. Entrepreneurs are people who create new innovative products or services that will help ease people’s lives in a positive way.

They add to the total national income by increasing employment and higher earnings in the form of higher tax revenue. This money can be used by the government to invest in other, struggling sectors and human capital. Entrepreneurs always create a social change by implementing new rules and actions that will save money and effort in many places. This will change the traditional way of dealing with problems. With the development of technologies and all, many people are learning new and improved methods. Many greater minds start to think out of the box and create amazing solutions and even better products. All these create a completion between entrepreneurs. But the ones in the developing country can always compete with the one from the developed country due to the introduction of technologies.

Entrepreneurs always invest their money in community projects and provide financial supports to local charities and also help young minds to come up with something new. Many famous entrepreneurs like Bill Gates have used their money to finance good causes from public health to education. Elon Musk, one of the biggest minds of the present era has contributed a lot to the modern world. People like him motivate young minds and they will one day create amazing things that will help humans to thrive in the future.

If we take the past 10 years as a case study, we can see how much has technology improved. Take our mobile phone as an example. Back in 2010 touch screen device with a 5 MP camera was a big thing. Look now in 2020,bezel-less screens, hole-punch display, 8k resolution, 108 MP camera, ultrasonic fingerprint sensor, foldable display, etc. We have evolved a lot in a span of 10 years. Now technology is developing rapidly with the introduction of Artificial Intelligence, Machine Learning and we are able to create self-driving cars and robots that can actually interact with us.

All these are possible because of the innovative minds behind all these. The people who thought outside the box. This shows us why our country needs more entrepreneurs and this is an evident example that why we should give students the training to be an entrepreneur while in high school itself. Because if all the people start to think like one, just imagine the reach our world would be. India is a country with very large manpower. If we start to use them wisely, give them the training and motivation to think like an entrepreneur; then India will be at the top of the innovation.

Published by Adithya Prem

Touch the Worm 🐛

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