The word entrepreneur comes from French word “entreprende” which means
undertake. By this we know entrepreneur is a person who undertakes something,
in this case it is mainly risk. Entrepreneur is a person who practices a
daring journey, and ready to take risk lifestyle, who takes advantage out of
arising opportunity or chance. He or she also acts as the person who takes
decision who decides on how, what, service, products and goods to be sold. The entrepreneur
also controls and look over the business completely. The entrepreneur usually
is the one who owns or a sole proprietor of the business. He or she will also
own the majority of the shares of the company. An entrepreneur usually seen as
innovator, or a source for goods, new ideas, and service. He
or she typically creates a business plan, hires labour,
acquires resources and financing, and provides leadership and management for the business.

How entrepreneurs
contribute to the economic development of a country? That is the main question
here. So firstly, the first and foremost thing that entrepreneur contribute
would be investment. Now, why is investment is important to a country? People usually
tend to look for new or alternative better resources. So when a new resource is
found those who invest in it even by knowing the risks in it, like
entrepreneurs would create a new business or platform for others to involve
themselves in which will build up the business and later on the country. Usually
entrepreneurs take risks and build a new business based on what goods, or
services that are currently needed by the community but haven’t been in the community
yet. This is where the investment made by the entrepreneur starts to contribute
to the economy. When new and much needed product or service is in the market
people tend to go forward to get it which will stir up the business and the
economy. Not only the people, but also other sectors also gain benefit from the
newly found business.

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Next thing that an
entrepreneur will be contributing would be a chance of employment. When an entrepreneur
creates a new business, he or she would be needing more muscles and brains to
handle the production or service. By this, those people without a job will have
a chance to get employed and earn a standard income which would help them
survive and take care of themselves or loved ones. By doing so, the
entrepreneur will make the community to be in a better state, and when jobless
people get jobs, it would uplift the economy which will eventually make the
country economics better.

Furthermore, next
contribution would be addition income to the nation. The newly found business which
was worth the risk, gives out or generates wealth, where else new the already
found business will just maintain its profit. Newly found product or service
which were needed by the community will enable new types of market to be found
or developed.by the increase rate in employment and higher earnings, tax that
should be paid to the government would be high also, which will directly
increase the economy of a country since tax is the prime factor of a country.

Next, would be commerce
and regional economic integration. When the new found business exports and
imports good and services to and from other countries, which will lead directly
to the country’s economy and earnings. Countries which always trade with each
other will be off with a better economics. This will also indirectly promote
the relationship, infrastructure and economic relation between the partnering
countries.

Moving on to the next
point, an entrepreneur can always produce a diverse or different kind of
products and services using his or her innovation skills. By having much of
choices, the customer would be happy to choose from the various choices and
would be happy and wholeheartedly leave the place. This will create a happy
community leading to a better economy.

Next, entrepreneurs also
provide charitable contributions from the profits of their business. By donating
a certain amount of their profits to those who need them, the community becomes
a better place impacting on a better economy rather than poor economy due to
lack of support those who need them.

Lastly, an entrepreneur
contributes directly to a country’s GNP (gross national product). The GNP of a
company is calculated by the total number of services and products in a
particular country. When an entrepreneur, who innovates various amount of
products and services the total number of products and services in the country
would increase resulting in higher GNP.

 

In my opinion, yes
entrepreneurs are agents of change. This is because with their innovation and
ability to take up risks and turn them in to profit they can change a lot in
terms of a country’s economy, the standard of community around them and also
have major impacts worldwide if their business gets into a worldwide market. Overall,
they have the power to change lots of things.