Majoring in business helps the entrepreneur add to national income and generate wealth. Existing businesses have a trend to the existing markets and may contribute to the national income. Majoring in new businesses improves the quality of services from the entrepreneur that enables a person to develop strategies in cubing the market and create wealth. Additionally, the effects of increased employment and majoring in different types of business contributes to the improvement of national income. Since taxes will be paid, which the government will use to invest in governmental opportunities, with the increase in national income, this will enhance value to the business and provides employment opportunities to the community and family at large Importance of entrepreneurship Essay.
Another way is for entrepreneurs to create social change through unique services that impact the lives of others. An entrepreneur has the freedom to use different systems and technologies to improve economic freedom. Importance of entrepreneurship Essay For example, supplying water in a scarce region, this will force residents to stop what they are doing and collect water. This will contribute to a great impact on the business, creating more social opportunities to the community and even earning an income towards the initiative. Moreover, globalization has made it easier for entrepreneurs to advance in the global market and get the same opportunity as others. So, young individuals engaging in business from underdeveloped countries will take advantage of the multi-billion dollar from developed countries like China and Russia.
Creating new businesses is another reason why we major in business. This comes with a chance of new employment, new advanced services, and new goods, which can improve the economic status of a community and country at large. Creating a new business is enhanced by identifying the kind of services people in your community lack then start the business. Importance of entrepreneurship Essay Some businesses which are associated with communication and network programming require the training from the institution or a nurtured talent. Similarly, underdeveloped countries require an effort to develop future capital from investments enabling the entrepreneur to benefit across the economy.
Majoring in business also gives very important skills. Doing business will require a person to at least have some common skills like marketing, communication, selling, and many more. This gives business owners a room to accommodate changes that exist in the markets. The basic skill will impact the relationships with the community and family.
To conclude, majoring in business is very important since it enhances several skills. Deciding and finding the major in a business is one of the greatest decisions one can make because this will create a bigger impact on our lives. Some of the majoring areas are creating new businesses, improving business skills, enhancing social change and advancing countries’ revenue income. When the reasons are solved, it will help in building and creating a strong impact on our life, the community and the family Importance of entrepreneurship Essay.
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