Asked April 22, 2015, 4:11 AM EDT

Benefits of entrepreneurship to a country

Outside United States

1 Response

Entrepreneurs add value to their communities in a number of ways.

Successful entrepreneurs may improve the standard of living. They may create jobs and create wealth for themselves and their communities from their products and services.

They create new businesses. This business creation creates jobs and thereby additional community value of increased consumer spending. Their new business may spur creation of additional supporting or supplier businesses.

Entrepreneurial ventures can create new wealth and may develop new markets that improve the broader economy.