Start-up and New Venture Management

CONTRIBITION TO INDIAN ECONOMY HAS TO COME FROM ENTERPRENEURIAL

ACHIEVEMENTS. EVALIATE THE STATEMENT SIGNIFIYING THE ROLE OF
ENTERPRENEURIALSHIP

shaista shabbir shaikh

MBA 2nd sem , roll no. 134
Indian economy has to come from Entrepreneurs because Entrepreneurs boost economic
growth by introducing innovative technologies, products, and services. Increased
competition from entrepreneurs challenges existing firms to become more competitive.
Entrepreneurs provide new job opportunities in the short and long term.

Importance of entrepreneurship to an economy:

Economic development by entrepreneurs. This shows the importance of entrepreneurship in the

best way. New products and services produced by entrepreneurs may boost the economic growth
of related companies. This is also true for sectors that need to support the new business.

For instance, during the 1990s, a few information technology companies made up the IT industry
in India. The industry grew quickly and it helped many other businesses. Businesses have grown
in related sectors, such as call Centre operations, network repair firms and hardware suppliers.
Institutes of education and training fed and cared for a new generation of IT employees. They
were given better high-paying jobs.
Entrepreneurs Contribute to the National Profit:

Entrepreneurial projects help create fresh wealth. Established companies can remain
restricted to existing markets and can, in terms of profits, reach a limit. Improved goods,
services, or technology from businesses enable the growth of new markets and the creation of
new wealth.

Also, increased jobs and higher incomes, in the form of higher tax revenue and expense, lead to
better national income. So, this importance of entrepreneurship helps to create the national
income of a country. The government will use this income to invest in other industries in bad
shape and human resources.
 Social change by entrepreneurs

This importance of entrepreneurship break from tradition and reduce dependence on

outdated systems by providing unique products and services. This will lead to an improved
quality of life, improved behavior, and greater independence of the economy.

Smartphones and apps have changed working and playing around the world for a more
modern case. As more than 5 billion people have mobile devices around the world.
Smartphones are not limited to rich countries or people. Technological entrepreneurship
will have an extreme, long-lasting effect on the planet as the development of the
smartphone industry continues.
Creation of societies

Entrepreneurs often help grow other like-minded people’s projects. They also participate to
begin something new in the city and provide local organizations that help needy people.
Beyond their own projects, this allows further growth. So, this is one of the importance of
entrepreneurship.

Some successful entrepreneurs, such as Tata have used their money to support good causes,
from education to public health. The qualities that make a good businessman are the same
qualities and lead them to charity.
Thank you