Samant Brara Role of Entrepreneurs in Economic Growth and Creating Employments

Samant-Brara-Role-of-Entrepreneurs-in-Economic-Growth-and-Creating-Employments

India is one of the countries having a long history along with a diverse entrepreneurship culture. In addition to this, with 14.9% of the entrepreneurship rate in 2017-2018 (this rate is increasing with each passing year) India is one of the biggest and leading nations in Asia for innovative entrepreneurship. This is one of the reasons why you are seeing various startups today led by popular names like Samant Brara. The idea and concept of owning and running a business are majorly rooted in India’s political, social, and of course, economic culture.

Since India has a majority of the young population, entrepreneurship is something that goes pretty well. It is the finest way to generate job opportunities and help our economy grow and move forward by fulfilling the essential needs at the same time. But do you know what the role of entrepreneurship in the growth of our economy is? Samant Brara – a well-known and successful business entrepreneur in India mentioned the following points:

Entrepreneurship is quite effective as it spurs the economic development of a country in numerous ways. And one of the most obvious ways is by generating jobs for the people. No matter whether an entrepreneur is running a huge venture or simply a smaller one, he or she will definitely employ people and pay them so that they can spend on buying products or invest in other modes to maintain the smooth movement of the economy. Entrepreneurship creates jobs for people having different qualifications. For instance, small entrepreneurs are more likely to hire people with no to limited education, while bigger ones need highly educated, specialized, and more skilled people.

  • Boosting the national economics of a country

According to Samant Brara, the key to any national economy’s growth is generating more and more employment. Since employed people who are earning some money spend more, therefore, giving a much-needed push to the Gross Domestic Product (GDP) of a country. These are the people who pay different taxes and by doing so, they also contribute to the national income of a nation. In addition to this, a person who is earning is more likely to save some money or invest in assets to secure their future. Besides, people having more financial stability will also send their kids, becoming a part of the movement created for improving the quality of life. In simplest terms, as more and more people opt for employment, the middle class of a country grows, and makes their life better; a country started walking on the path of overall growth.

  • Driving innovation

Many well-established entrepreneurs including Samant Brara businessman believe that entrepreneurship is also a driving force for innovation. How? Entrepreneurship expands supply and increases competition. As a result, budding and established entrepreneurs find new methods to adopt innovative practices to stay on the top and relevant. They also look for options that can cut down the costs and stretch the resources. However, new and budding entrepreneurs are more likely to experiment and drive innovation but bigger ones may reject new ideas because of the risks attached.

  • Supporting social changes

When it comes to supporting and promoting social changes, entrepreneurship is more like an instrumental tool. Running a business provides people with the right direction and the resultant job options help them support themselves and their loved ones. As a result, crimes associated with unemployment will reduce. And when the crime rate is low and people are more employed, it will bring positive social changes for the country.

Final Takeaway

It is believed that a country with impressive entrepreneurial infrastructure like conducive policies of the government, easily available finance, and strong industrial models typically lead to prosperity and enhanced quality of life. This is why Samant Brara says that entrepreneurship is not just a solution to reduce unemployment but it is more like a road map that is highly needed for a better life.

By Arslan Shah

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