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Disadvantages Of Entrepreneurship

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Entrepreneurs are individuals who, rather than working as an employee, run a small business and assume all the risk and reward of a given business venture, idea, or good or service offered for sale. The entrepreneur is commonly seen as a business leader and innovator of new ideas and business processes. Entrepreneurs play a key role in any economy. These are the people who have the skills and initiative necessary to take good new ideas to market and make the right decisions to make the idea profitable. The reward for the risks taken is the potential economic profits the entrepreneur could earn.
Entrepreneurs can change the way we live and work. If successful, their innovations may improve our standard of living. In short, in addition to creating …show more content…

The qualities that motivate entrepreneurs to pay forward are the same qualities to what makes one an entrepreneur. On the other hand, are there any drawbacks to harvest entrepreneurs and entrepreneurship? Is there a ceiling for the number of entrepreneurs a society can hold? These questions can help in finding out if there is another side to entrepreneurship.
The interesting interaction of entrepreneurship and economic development has vital inputs for policy makers, development institutes, and business owners. If we understand the benefits and drawbacks, a balanced approach to nurturing entrepreneurship will definitely result in a positive impact on economy and society.
Entrepreneur’s contribution to the economy is of huge value. The entrepreneur is vital to the economic growth of the country. Their products are valuable to the overall development of the society. People need their products. They simply cannot do without them. Even in developing countries consumerism is gaining power. Developing counties thrive on consumerism; the role of an entrepreneur is of much understanding in generating products valuable for the comforts and luxurious living of the people of a particular country. An economy is much dependent upon the performance level of its entrepreneur. He or she plays a vital role in the growth of the national income as well as raising the per capita income of the

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