Entrepreneurs And Their Key Roles In The Society

The question of who entrepreneur is, is already known to some people but for clarity sake, we are going to give a brief definition of the term.

WHO IS AN ENTREPRENEUR?

An entrepreneur is a starter. An entrepreneur is an initiator, a challenger and a driver.
Someone that creates something new, either an initiative, a business or a company. He or she is the beginning (and sometimes the end)
of a venture, project or activity. The
entrepreneur might not be the ideator, but he or she is definitely the one that decides to make that idea a reality.

Having known who entrepreneur is, let's highlights on the key roles they play in the society.

Entrepreneurs are not the only ones who benefit when they start businesses. Although job creation is one of the most important contributions they make to society, it's certainly not the only one.

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Entrepreneurs can play important roles in their communities,
particularly when they turn their energies to philanthropy and innovation.

1) Help Wanted
Entrepreneurs not only create jobs for
themselves but for other people in their communities. Although new business owners might start their businesses with only one or
two employees, those numbers increase as the company grows. The cumulative effect of multiple small business start-ups creates a
significant impact when it comes to job creation. In some countries, that impact is evident when you look at employment statistics. The U.S. Small Business Administration reports that small firms
created 63 percent of the net new jobs from mid-2009 till date

2) Support for the Economy
Entrepreneurs not only create jobs in their own companies but also contribute to improving their local economies. When people are
employed, they spend money in local
businesses, such as clothing stores and restaurants, which keeps those businesses flourishing. The new company establishes relationships with suppliers, vendors and other
companies and spends money purchasing good and services from those companies. The
existence of a new company can encourage others to open businesses in the same area, which in turn spurs new job creation.

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3) Giving Back
Entrepreneurs contribute to their communities with their charitable contributions. In some cases, entrepreneurs start businesses that
focus equally on profit and charitable goals.
For example, a financial company might start a program that provides loans to low-income female business owners. Some entrepreneurs don’t restrict their charitable activities to providing money but work directly with
organizations. A survey of 146 entrepreneurs
conducted by Harris Interactive and Ernst & Young revealed that 90 percent of entrepreneurs surveyed give money to charity and 70 percent donate their time. Because
entrepreneurs are often experts at finding resources and funding and marketing their products, they can provide invaluable advice
to nonprofit organizations.

4) It's Brand New
The freedom from corporate rules and regulations can free entrepreneurs to create new products that benefit society. The telephone, invented by Thomas Edison,
profoundly changed people’s lives when it was invented. The computers many of us can’t live without wouldn’t exist if not for entrepreneurs
like Bill Gates and Steve Jobs. Although entrepreneurs can succeed with tried-and-true business models, it’s often innovation that sets them apart from competitors whose
employees might not have the same passion for finding new solutions to problems.

Over to you, as an entrepreneur, what are your impact in the society of today. You can use the comment section in answering this question. Do not skip

Posted via Naira Trace Media